Supreme Court grants bail to fraudster Radhey Shyam

The Supreme Court today granted regular bail to Hisar-based fraudsters Radhey Shyam and Bansi Lal, managing director and chairman, respectively, of Future Maker Life Care private limited in a case related to alleged GST liability of around Rs 54.77 crore.

A Bench headed by the Chief Justice directed that both petitioners be released on furnishing bail bonds to the satisfaction of the Chief Judicial Magistrate, Hisar. They were facing charges of tax liability under various sections of the Central Excise Act, Finance Act, and CGST Act on the complaint filed by the Assistant Commissioner, CGST Division, Hisar.

The SC granted bail to them in the case related to the tax liability. The order stated 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 from October 2016 to June 2017.

The court said the firm had deposited around Rs 36 crore towards the liability. The Bench observed that although attachment of cash amounting to Rs 261 crore and certain immovable assets of the company and family members was insufficient to satisfy the claims against the company, “no useful purpose shall be served by keeping the petitioners in custody so far as this case is concerned.” The court also referred to its order dated May 4, 2026, through which Radhey Shyam was granted interim bail due to the health condition of his wife.