SUPREME COURT GRANTS BAIL IN ₹54.77 CRORE GST TAX EVASION CASE

RADHEY SHYAM & ANR.

versus

ASSISTANT COMMISSIONER

SPECIAL LEAVE PETITION (CRL.) NO. 3559/2026

Introduction

On 18 May 2026, the Supreme Court of India delivered a significant order in Radhey Shyam & Anr. v. Assistant Commissioner, granting bail to the petitioners—senior executives of M/s Future Maker Life Care Pvt. Ltd.—in connection with allegations of large‑scale tax evasion and financial irregularities. The case, arising from proceedings before the Punjab & Haryana High Court, highlights the intersection of corporate fraud, tax enforcement, and judicial discretion in bail matters.

COURT’S OBSERVATIONS-

A Bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi held-

Be that as it may, taking into consideration all the attending circumstances, however, without expressing any opinion on merits, the instant petition is disposed of and the petitioners are directed to be released on bail subject to their furnishing bail bonds to the satisfaction of the Court of Chief Judicial Magistrate, Hisar.

The Supreme Court acknowledged that while the attachment of ₹261 crores in cash and certain immovable assets was insufficient to satisfy the overall claims against the company, continued incarceration of the petitioners would serve no useful purpose in the present case.

Further, the Court made it explicit that all attached movable and immovable assets—including the company’s bank accounts, those of the petitioners’ family members, and any associated persons—shall continue to remain frozen, unless specific permission is granted by the Supreme Court to the contrary.

It is, however, made clear that the movable and immovable assets including bank accounts of petitioners company, their family members and those who are found associated shall remain attached and no Court shall pass any order de-freezing those accounts without prior permission of this Court and/or except in such cases where such accounts are required to be are operated or assets are required to be disposed of for reimbursement of the verified claims of the investors/customers of the subject company.