Case Law Details
Rajesh Kumar Vaishnav Vs Intelligence Officer, Directorate of Revenue Intelligence (Mumbai Session Court)
In a significant development, the Bombay Session Court has granted bail to Rajesh Kumar Vaishnav in the case registered by the Directorate of Revenue Intelligence (DRI). The case involves allegations of undervaluation of imported lamination pouches over a period of five years. This article provides an analysis of the court’s decision and its implications.
The application filed by Rajesh Kumar Vaishnav sought his release on bail under Section 439 of the Criminal Procedure Code. The applicant, who is one of the partners of Kabir Traders, is accused of undervaluing stationary items imported from China to evade custom duty. However, the applicant denies these allegations and claims to have followed proper valuation procedures. He has even deposited a significant amount with the government to demonstrate his innocence.
The prosecution opposed the bail application, arguing that the offense is a serious economic offense and that the investigation is still at an initial stage. The co-accused Mansukh Vaishnav alleged that Rajesh Kumar Vaishnav used to undervalue goods during importation and remit the balance amount overseas through an Angadia network.
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