Vicky Bhalotia Denied Bail in Multi-Crore GST Scam Case

Jamshedpur Businessman’s Bail Plea Rejected, Sent to Judicial Custody

Jamshedpur businessman Vicky Bhalotia faces judicial custody after bail rejection in a multi-crore GST scam, marking a significant development in the ongoing investigation.

JAMSHEDPUR – After conducting raids at several locations, including the Jugsalai residence of businessman Vicky Bhalotia, the Income Tax Department has taken steps to send him to judicial custody.

Officials, along with the police, escorted Bhalotia to MGM Hospital for a medical examination before initiating the custody process.

These actions follow a raid conducted one and a half months ago at Bhalotia’s residence by the DGCI team.

Bhalotia, known for his iron business, was arrested three days ago at a hotel event in Kolkata, with the arrest details only recently coming to light.

The raids extended beyond his Jugsalai residence to include his Bistupur Company Office, Adityapur Office, Sonari Residence, Sonari Office, and the Baliguma Plant.

In further development, Amit Aggarwal, alias Vicky Bhalotia, facing charges in a multi-crore GST scam, had his bail petition rejected by the Jamshedpur court.

The Economic Offenses cum ACJM Chandra Bhushan Kumar presided over the bail hearing.

Advocates Prakash Jha and Sanjeev Ranjan Variyar represented the accused and the Union of India, respectively.

Previously, police had arrested Aggarwal and presented him before the court.

Post the bail rejection, he was sent to jail.

The Union of India Intelligence Officer GST Dinesh Kumar has registered a complaint against Aggarwal in the Economic Offenses Court.

Aggarwal is accused of a GST scam amounting to Rs 9 crore.

Despite receiving three summonses from GST Intelligence, Aggarwal failed to appear, citing illness.

The GST department has allegedly charged him with fraudulent activities through various companies, with fake documents alleged linked to different companies embezzling GST amounts totaling over Rs 8 crore.