Panvel Businessman Granted Bail in ₹60-Crore GST Fake Invoice Case
Thank you for reading this post, don't forget to subscribe!The Esplanade court has granted bail to Panvel-based businessman Nandlal Pandurang Uike, arrested on charges of a massive ₹60-crore Goods and Services Tax (GST) fraud. Uike, the proprietor of M/s SP Machiners and Services, was accused of claiming a wrongful Input Tax Credit (ITC) of ₹10.68 crore through fake invoices.
Additional Chief Judicial Magistrate SK Fokmare ordered his release, reasoning that Uike’s custodial interrogation was complete, making further detention “unnecessary.”
Uike argued that he was “falsely implicated,” claiming that his absconding co-accused, Rajesh Mourya and Sunil Parate, had misused his login credentials. The court sided with the defense, noting that since the evidence was already seized and Uike had cooperated, keeping him jailed until the charge-sheet was filed would serve “no purpose.”
The court ordered Uike to be released on a personal bond of ₹2 lakh with sureties.
Court Cites Completed Interrogation to Grant Bail to Businessman in ₹60 Cr GST Fraud
In a recent ruling, the Esplanade court granted bail to Nandlal Pandurang Uike, a Panvel businessman facing serious economic charges related to a ₹60-crore GST fake invoice scam.
Despite strong objections from the prosecution, who cited a Supreme Court ruling on the gravity of economic offenses, Additional Chief Judicial Magistrate SK Fokmare released Uike. The court held that since custodial interrogation was over and Uike had cooperated with investigators, “no purpose” would be served by keeping him in jail until the charge-sheet was filed. The court also noted that offenses under the GST Act are “subject to certain restrictions of a compoundable nature.”
Uike’s defense successfully argued that the case was based only on documentary evidence already seized, and that his co-accused were the ones who allegedly misused his credentials to execute the fraud.
GST Fraud Suspect Walks: Panvel Bizman Gets Bail
₹60 CRORE GST FRAUD: Panvel businessman Nandlal Pandurang Uike has been granted bail by the Esplanade court, despite facing charges of ₹10.68 crore in wrongful tax credit via fake invoices.
The court ruled that his detention was “unnecessary” because:
- Custodial interrogation is complete.
- Uike cooperated with the investigation (the co-accused are absconding).
- The case is based only on seized documents.
Uike claims he was framed, with co-accused misusing his login. He was released on a ₹2 lakh bond.
