Decision On Piyush Jain’s Bail May Be Announced today
Decision on Piyush Jain’s bail may be announced today, 45-page answer and debate lasted for three and a half hours.
The debate on the bail application of perfume businessman Piyush Jain was completed on Friday. The Special Public Prosecutor of the Directorate General of GST Intelligence (DGGI) opposed the bail.
The court has reserved the order after hearing both sides. The decision will be announced on Saturday.
Piyush Jain’s bail application was filed on Wednesday. Ten days’ time was sought by DGGI’s Special Public Prosecutor Ambareesh Tandon for a reply, but the court gave one day’s time.
In the hearing held on Thursday, the Special Public Prosecutor argued for not being able to raise objections due to non-receipt of reply from DGGI Ahmedabad and again sought three days’ time.
However, the court fixed the time for Friday. On Friday, the Special Public Prosecutor of DGGI opposed the bail by filing a 45-page reply in the court of ACMM II.
During the debate that lasted for three-and-a-half hours, he said, GST evasion of Rs 32 crore was estimated in the primary phase.
Since the deliberation is going on, the full tax calculation is being done now. Piyush Jain did not name the firms and traders from whom he used to buy raw materials and sell finished goods.
Arguing for arrest in case of punishment of fewer than seven years, he said that arrest can be made under section 132-1 of the CGST Act in case of tax evasion of more than five crore rupees.
Therefore, the arrest has been made showing all the reasons.
Appealing for the cancellation of bail also referred to the Supreme Court ruling Nattha Lal Chauhan vs the State of Gujarat.
This referred to the withdrawal of SLP on behalf of the accused plaintiff in the case that reached the Supreme Court after the cancellation of bail from the Gujarat High Court.
It was also argued by DGGI that Piyush Jain’s younger brother Ambareesh Kumar Jain is a 33 percent partner in Odochem Industries.
Eight summons have been given to him for questioning but, he has not yet appeared. It was said on these grounds that if granted bail, Piyush can influence the witnesses.
Argued that the investigation of the matter is going on in which more money is likely to be received. Only then the final GST tax assessment can be done and then the supplementary charge sheet will be filed.
Defense advocate Chinmay Pathak told that the court has reserved the verdict. The decision will come on Saturday.
Decision on Piyush Jain’s bail may be announced today: This was the case:
DGGI Ahmedabad team seized Rs 1,77,45,01,240 from perfume trader Piyush Jain’s house in Anandpuri.
Rs 19,03,01,289 from Kannauj-based firm, 23 kg foreign stamped gold brick, and 600 liters of Sandalwood oil were found.
DGGI has filed a charge sheet against the perfume trader in connection with the recovery of Rs. While the charge sheet is pending in the gold brick and sandalwood case.
