SC grants bail to Future Maker MD and chairman in Rs 54-crore GST case
The Supreme Court on Monday granted regular bail to Hisar-based alleged fraudsters Radhey Shyam and Bansi Lal, Managing Director and Chairman, respectively, of Future Maker Life Care Private Limited, in a case related to GST liability of around Rs 54.77 crore.
A bench comprising the Chief Justice of India and Justice Joymalya Bagchi directed that both petitioners be released on furnishing bail bonds to the satisfaction of the Chief Judicial Magistrate, Hisar.
They were facing charges under various sections of the Central Excise Act, the Finance Act, and the CGST Act on a complaint filed by the Assistant Commissioner, CGST Division, Hisar. The order noted that GST returns from March 2018 onwards were not filed and statutory tax liabilities were allegedly avoided, resulting in an assessment order of Rs 54,77,88,938 for the period from October 2016 to June 2017.
The Supreme Court observed that the firm had already deposited around Rs 36 crore towards the tax liability. Radhey Shyam and Bansi Lal have remained in jail for over four-and-a-half years and three years and nine months, respectively, in this case.
The bench observed that although the attachment of cash amounting to Rs 261 crore and certain immovable assets of the company and family members were insufficient to satisfy the overall claims against the company, “no useful purpose would be served by keeping the petitioners in custody so far as this case is concerned.”
The court also referred to its earlier order dated May 4, 2026, granting Radhey Shyam interim bail due to his wife’s precarious health condition ahead of a scheduled surgery. However, the court noted that the surgery had not taken place, and a medical certificate dated May 16, 2026, stated that surgery could pose a significant risk to her health.
While granting bail, the Supreme Court ordered that the movable and immovable assets, including bank accounts of the company, family members, and associated persons, would remain attached. It directed that no court shall pass any order for unfreezing the accounts without prior permission of the Supreme Court, except where operating accounts or disposing of assets is required for reimbursement of verified claims of investors and customers.
Notably, the accused were engaged in multilevel direct marketing through the sale of agricultural products, health products, textiles, and other goods via direct sellers. The firm allegedly cheated its investors and customers of nearly Rs 3,000 crore. The fraud was exposed by the Telangana police in 2018. They were granted bail in the Telangana fraud case in 2023.
