BIKAS Vs. STATE OF ODISHA
HIGH COURT OF ORISSA
STATE OF ODISHA
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(1.) The present petitioner, who is in custody, has filed the instant bail application under Section 439 of the Cr.P.C corresponding to 2(C)CC Case No.35 of 2020 for commission of offences punishable under Section 132(1)(b)(c) and (i) of OGST Act, 2017. Prior to instant application, the petitioner also approached the ASJ-cum-Special Judge (CBI-I), Bhubaneswar vide Bail Application No. 631 of 2020 arising out of 2(C) CC Case No. 35 of 2020 which was rejected on 11.06.2020.
(2.) As per the underlying complaint and the prosecution report, a large number of fraudulent business transactions were made using several fictitious firms including M/s Siddhi Binayak Steel, M/s Varmora Steel and Cement, M/s Pradhan Iron and Steel, M/s Blenders Iron and Steel, M/s Dhanalaxmi Iron, M/s Ganapati Enterprises, M/s Utsav Enterprises, M/s Shree Shyam Enterprises, M/s Sahoo Steel Traders, M/s Saha Enterprises, M/s Sonam Enterprises and M/s Sahoo Traders. The above persons, individually by Sri Vikas Sarawgi, the petitioner herein and in collusion with Sri Ankit Agrawal and Sri Pramod Kumar Sahoo, are stated to have created several dummy and nonexistent entities to avail bogus Input Tax Credit (ITC), for the purpose of defrauding the revenue.
(3.) The typology and modus operandi of such fraudulent activities involved in the creation of these dummy and non-existent firms, appears to have been a matter of grave concern for the authorities. They were predominantly engaged in passing bogus input tax credit, secured on the strength of fake and fabricated invoices without supply of any physical goods to such other existing and non-existing firms, thereby enabling the recipients to avail and utilize the same while discharging tax liabilities. These fake and fraudulent transactions have, among others, caused huge loss to the State exchequer at least to the tune of Rs.96.39 crores.;
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