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Considering the seriousness of allegations, enormity of charge and the fact that investigation is at crucial stage, this court is not inclined to release the applicant/accused on bail.

Bail application— In the instant case, an application moved on behalf of applicant/accused seeking grant of bail. Applicant/accused is Masters in Business Administration. He is reported to be the sole proprietor of M/s Sri Siddhivinayak Ventures and reportedly raised taxable invoices to the tune of Rs. 150 crores without any movement of goods. During the course of investigation, it was revealed that input tax credit of approximately Rs. 7 crores has been fraudulently availed/passed by M/s Sri Siddhivinayak Ventures. Held that— Considering the seriousness of allegations, enormity of charge and the fact that investigation is at crucial stage, I am not inclined to release the applicant/accused on bail. The application is bereft of any merits and the same is accordingly dismissed.
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