Businessman’s bail rejected in GST case

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The sessions court rejected the bail application of Sanjay Gaikwad (47), the managing director of a Punebased private company, for cheating the government of Rs 12 crore by issuing fake GST invoices in March. He had filed the bail plea on the ground of heart disease, but the sessions court observed that there is evasion of huge amounts of GST to the tune of more than Rs 7.44 crore. It was also found that he failed to submit any certificate or medical papers to describe his medical condition as suffering from anxiety attacks and heart problems.

Gaikwad, a resident of BT Kawde Road, is managing director of M/s Sigma Techinfra Solutions India Private Limited, which has offices in Mumbai and Pune (at Baner and Mangalwar Peth). The headquarters preventive unit of Pune-ll Central Goods and Services Tax (CGST) commissionerate has arrested him on March 17.

The defence lawyer, “There are hundreds of employees working in the firms of the applicant. He is ready to deposit a sum of Rs 50,00,000 within five days from the date of bail being granted and shall pay further sum of Rs 50,00,000 within 15 days,” the defence said.

Special public prosecutor Sandip Ghate opposed the bail application and argued, “Only 21 days have passed after his arrest. So far, tax evasion of more than Rs 7.44 crore is disclosed and the amount may increase during further investigation.”

Additional sessions judge YK Yawalkar, while rejecting the bail, observed, “If the applicant is released on bail, there is likelihood of tampering with the evidence and influencing witnesses.”

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