Vikas Jain S/O Shri Ramesh Chand Jain vs. State Of Rajasthan

Held

The Court allowed the bail application of the petitioner, Vikas Jain. The Court considered the rival submissions and the material on record, particularly noting that the case is exclusively triable by a Judicial Magistrate. It was also observed that the offence is compoundable up to the quantum of Rupees five crore. The absence of any criminal antecedents and the fact that the petitioner has been in judicial custody since February 13, 2025, were significant factors. The Court granted bail without expressing any opinion on the merits or demerits of the case. The petitioner was ordered to be released on furnishing a personal bond of Rs. 1,00,000/- with two sureties of Rs. 50,000/- each to the satisfaction of the learned trial court. Further conditions include appearing before the trial court on all dates until the conclusion of the trial, depositing his passport with the trial court, and not travelling abroad without prior permission.

Facts

The petitioner, Vikas Jain, Director of M/s Vrcj Ispat Private Limited, is seeking bail in a case registered under Sections 132(1)(b)(c) read with Section 132(1)(i) and Section 132(5) of the Rajasthan Goods and Services Tax Act, 2017. The allegation is that the petitioner, through a bogus firm, availed input tax credit amounting to Rs. 17.96 crore. The petitioner has been in custody since February 13, 2025, and claims to have no criminal antecedents. A charge-sheet has been filed. The petitioner relies on the bail granted to a co-accused, Prabhat Kumar, and Supreme Court judgments in Vineet Jain and Rajiv Jindal.

Key Issues

1. Whether the petitioner is entitled to bail under Section 483 of BNSS, considering the nature of the alleged offences under Sections 132(1)(b)(c), 132(1)(i), and 132(5) of the Rajasthan Goods and Services Tax Act, 2017, and the fact that the offences are exclusively triable by a Magistrate with a maximum punishment of five years? Petitioner's Arguments: The petitioner contends that the offences are exclusively triable by a Magistrate and the maximum punishment is five years. He has been in custody since February 13, 2025, without any criminal antecedents. He cites the bail granted to co-accused Prabhat Kumar and Supreme Court decisions in Vineet Jain Vs. Union of India and Rajiv Jindal Vs. State of U.P. as grounds for relief. Respondent's Arguments: The State of Rajasthan, through the GST Department, opposes the bail application, arguing that the petitioner is involved in an economic offence that affects the country's economic fabric and therefore should not be released on bail.