SC grants bail to Rs 54cr GST case

Hisar: The Supreme Court has granted regular bail to Future Maker Life Care promoters Radhey Shyam and Bansi Lal in a GST liability case involving alleged dues of over ₹54 crore, observing that no useful purpose would be served by keeping them in further custody.A Bench headed by the Chief Justice of India passed the order on May 18 while hearing a special leave petition filed by the two accused in a case registered under provisions of the Central Excise Act, Finance Act and Central Goods and Services Tax Act.According to investigators, Radhey Shyam was the managing director of Future Maker Life Care Pvt Ltd, while Bansi Lal served as chairman-cum-managing director. The company, engaged in multilevel direct marketing of agricultural, health and textile products, allegedly failed to discharge its tax liabilities.The Supreme Court noted that GST returns were allegedly not filed from March 2018 onwards, leading to an assessment order of ₹54.77 crore for the period between Oct 2016 and June 2017. The court was informed that nearly ₹36 crore had already been deposited.The Bench also noted that Radhey Shyam had spent more than four-and-a-half years in custody in predicate offences and about one-and-a-half months in the present case, while Bansi Lal had spent around three years and nine months in custody in predicate offences and six months in the current proceedings.The court directed their release on bail on furnishing bonds before the chief judicial magistrate, Hisar.However, the court said movable and immovable assets, including bank accounts of the company, the accused, their family members and associates, would remain attached. It directed that no account be defrozen without prior permission of the court, except for reimbursement of verified claims of investors and customers.The Bench also referred to its earlier interim bail order granted to Radhey Shyam on humanitarian grounds due to his wife's medical condition.The case relates to allegations that Future Maker Life Care Pvt Ltd collected thousands of crores through a nationwide membership network while allegedly defaulting on statutory tax liabilities.