Rishabh Jain S/O Shri Yogesh Jain vs. State Of Rajasthan

Held

The Court allowed the bail application. It noted that the petitioner was arrested on June 25, 2023, the investigation is complete, and a charge-sheet has been filed. The Court also considered that the petitioner has no prior antecedents and that the maximum punishment for the alleged offence under Section 132(1) of the CGST Act, 2017, is five years imprisonment and a fine. Citing the Supreme Court's decision in Ratnambar Kaushik Vs. Union of India, where bail was granted after a period of incarceration and considering the time trial completion would take, the Court found it just and proper to release the petitioner on bail. The reasoning is based on the totality of facts and circumstances, the period of incarceration (approximately six months), and without commenting on the merits of the case. The petitioner was ordered to be released on furnishing a personal bond of Rs. 2,00,000/- with two sureties of Rs. 1,00,000/- each, subject to conditions including making himself available to the trial court, not inducing or threatening witnesses, and not leaving India without prior court permission.

Facts

This is a bail application filed by Rishabh Jain (petitioner) under Section 439 Cr.P.C. in connection with a case registered for offences under Sections 132(1)(b)(c)(f)(K) of the Central Goods and Services Tax Act, 2017. The petitioner was arrested on June 25, 2023. The petitioner's counsel argued that he was wrongly implicated, his confessional statements were recorded under duress, and he has since retracted them. The investigation is complete, and a charge-sheet has been filed. The maximum punishment for the alleged offence is five years imprisonment and a fine. The petitioner has no prior antecedents. The respondents, the State of Rajasthan and the Union of India, opposed the bail application, contending that the petitioner was involved in operating a syndicate of 569 fake firms for issuing fake invoices without supply of goods/services, leading to GST evasion amounting to Rs. 1046.74 Crores.

Key Issues

1. Whether the petitioner is entitled to be released on bail under Section 439 Cr.P.C. considering the period of incarceration, the nature of the alleged offence under Section 132(1) of the CGST Act, 2017, and the completion of investigation and filing of charge-sheet? Petitioner's arguments: The petitioner contends that he has been wrongly implicated, his confessional statements were obtained under duress and have been retracted. He highlights that the investigation is complete, charge-sheet filed, and the maximum punishment is five years imprisonment. He also points to the absence of prior antecedents and the period of incarceration already undergone. Reliance is placed on the Supreme Court's decision in Ratnambar Kaushik Vs. Union of India, which granted bail in similar circumstances. Respondents' arguments: The State and Union of India oppose the bail application, asserting that the petitioner is involved in a large-scale syndicate of fake firms facilitating GST evasion amounting to Rs. 1046.74 Crores, and therefore, should not be released on bail.