Watch co owner released on bail

The Rajasthan High Court today granted conditional (rpt conditional) bail to the owner of a watch company, arrested for customs duty evasion in July, on a bond of Rs 50,000.

A division bench of Justices Shiv Kumar Sharma and Chatra Ram Jat ordered the bail of Ishwar Das Moolrajani and granted him interim relief on a habeas corpus where he challenged his detention as being illegal.

The court asked him to furnish a bond of Rs 50,000 for release.

Mooljarani, the owner of a city-based watch company, was found to have evaded customs duty to the tune of Rs 4.5 crore by Directorate of Revenue Intellegence, Jaipur.

The court also ordered Moolrajani to deposit Rs 4.5 crore under protest to be paid by his company to the DRI after which he would be released on bail for a period of two months.

If he was found inocent, the deposit would be returned to him, it said.

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