India, Oct. 2 -- The Esplanade court recently granted bail to Panvel-based businessman Nandlal Pandurang Uike, who was arrested on August 25 for allegedly committing Goods and Services Tax (GST) fraud involving Rs.60 crore in fake invoices and wrongful input tax credit (ITC) of Rs.10.68 crore.

The additional chief judicial magistrate SK Fokmare passed the order last week, holding that Uike's further detention was unwarranted. "The custodial interrogation is already completed and therefore now there is no necessity to keep the accused behind bars," the court observed.

Uike, proprietor of M/s SP Machiners and Services, argued that he had been "falsely implicated. The absconding co-accused, Rajesh Mourya and Sunil Parate, have misused his ...