- Pune sessions court granted bail to Oves Malik, alleged mastermind of a ₹561 crore fake GST invoice racket involving 58 shell firms.
- Bail was granted on grounds of parity with co-accused already released and because the maximum punishment is five years.
- Malik must provide a ₹1 lakh bond, surrender his passport, not leave India without permission, and attend all hearings.
- The prosecution argued Malik played a central role in the fraud, but the court found prolonged incarceration unwarranted given the nature of the offence and existing legal precedents.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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