Heard learned counsel appearing for the petitioner and the learned counsel for opposite party, who opposes the prayer for bail.
The petitioner is an accused for allegedly committing offence punishable under Sections 132(1)(c) of the Central Goods and Services Act, 2017.
There is an allegation against this petitioner that he illegally availed Input Tax Credit. The petitioner is in custody since 23.08.2018.
Learned counsel appearing for the respondents opposes the prayer for bail and submits that this petitioner has taken the benefit of about Rs. 30 crores illegally by way of Input Tax Credit.
Considering the period of custody, I am inclined to enlarge the petitioner on bail. Accordingly, petitioner namely, Satya Prakash Singh @ S.P.Singh @ Satya Prakash is directed to be released on bail on furnishing bail bond of Rs. 50,000/- (fifty thousand) with two sureties of the like amount each to the satisfaction of Special Judge, Economic Offence, Jamshedpur in connection with Crl. P. No. 2441 of 2018.
The petitioner is directed to cooperate with the Investigating Officer during investigation and till completion of the investigation, he must appear before the Investigating Authority once a fortnight.