No bail for CEO held in Rs 45cr GST fraud
No bail for CEO held in Rs 45cr GST fraud
ByArchana MoreArchana More / Updated: Feb 5, 2021, 06:00 IST
His submission on compensation by selling mortgaged
flats did not hold weight
On Thursday,
sessions court rejected
bail application of Deven Mehta, the promoter and chief executive officer (CEO) of Pune-based Smart Card IT Solutions. Mehta reportedly cheated the government of Rs 45 crore by generating fake invoices of goods that were never supplied. The court called it a “serious economic offence” and demanded a detailed investigation in public interest.
Mehta had given an undertaking that he will sell two flats in Mumbai which are encumbered with bank liabilities worth Rs 96 crore within three months. He was also liable to pay goods and