BADAR DURREZ AHMED, J.

( 1 ) MR. Subramaniyam, the learned senior counsel who appeared on behalf of the petitioner, submits that the investigation has been going on and the petitioner has already spent 54 days in custody and the 60 days period is shortly going to be over. He further submitted that the goods imported under the D. E. E. C. Scheme were in fact imported by Gudiya Fashions Private Limited of which the petitioner was acting as a commission agent. However, the case for the prosecution is that the goods were imported at the instance of the present petitioner and he was the master-mind behind this entire fraud. The case against the present petitioner is that polyester fabrics were imported under the scheme under licences which were with the condition of actual user and were tied with the further condition of an export obligation. Under this scheme, goods imported are entitled to duty concessions/exemptions. The allegation is that these goods were imported availing of duty exemptions and thereby deriving a benefit of non-payment of customs duty, however, these goods were diverted in the local market and the export obligation was not met.

( 2 ) THE case of the prosecution fu

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