Case Law Details
Tarun Kumar Vs Assistant Director Directorate Of Enforcement (Supreme Court of India)
Supreme Court of India rejected the bail application as applicant failed to prove him not guilty of the alleged economic offences wherein crores of proceeds of crime were transferred to the shell companies without any genuine business transaction.
Facts- M/s. Shakti Bhog Foods Ltd. (SBFL) was engaged in manufacturing and selling food items under the brand name of “Shakti Bhog”. The company was managed through its Directors/Guarantors – Sh. Kewal Krishan Kumar, Sh. Siddharth Kumar and Smt. Sunanda Kumar. The appellant is the nephew of Sh. Kewal Krishan Kumar, and was shown as one of the employees in SBFL.
The Forensic Auditor conducted an audit review and submitted the report disclosing several financial irregularities and discrepancies in the functioning of SBFL, and alleged that SBFL had failed to discharge its loan liability and caused loss to the consortium member banks to the tune of Rs.3269.42 crores.
The appellant was summoned by the respondent-authorities the purposes of investigation and interrogation about seven times till the first complaint was filed by the respondent on 01.09.2021. When the appellant was in attendance before the respondent pursuant to the call by the investigating authorities on 22.06.2022, he was arrested and on 18.08.2022 the fourth supplementary complaint came to be filed by the respondent arraigning the appellant as the Accused No. 10.
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