This Court is of the opinion that this is a fit case to exercise the discretion to enlarge the applicant on bail.
Section 132 of the CGST Act, 2017— Bail —– The applicant sought bail for the offences punishable under section 132(1)(b)(c). It is submitted that the investigation in the case is over and the charge-sheet in the form of complaint has already been filed on 24.03.2020. The applicant is in jail since 26.01.2020 i.e. for around 15 months and all the co-accused have been enlarged on bail by the trial Court. The respondent counsel submitted that out of about 70 crores of tax evasion, the agency is able to recover an amount of Rs. 47 to 48 crores (approx.) from various persons. The court observed that the applicant is in jail since 26.01.2020; the investigation is over and the charge-sheet is filed; the maximum punishment is of 5 years; Co-accused have been enlarged on bail by the trial Court in the last year i.e. in the year 2020.
Held that:- The Hon’ble High Court allowed the application and directed the applicant is released on bail on executing a personal bond of Rs. 50,000/ and subject to certain conditions.