M.I.SAHADULLA Vs. STATE OF KERALA

JUDGEMENT

(1.) This is an application for anticipatory bail under Section 438 of Cr.P.C.

(2.) The applicants are accused 1 to 5 in Crime No.411/2019 of CBCID, Thiruvananthapuram for having allegedly committed the offences punishable under Sections 409, 420, 467, 468, 471 and 120B of the I.P.C.

(3.) The applicants are Chairman and Directors of a medical institution, namely, KIMS Bellerose Institute of Medical Sciences Pvt.Ltd., Kudamaloor in Kottayam District. The 1st applicant is the Chairman; while the others are the Directors. The defacto complainant and his wife are also Directors. Earlier, the defacto complainant and his wife were conducting a medical institute named "Bellerose Institute of Medical Sciences Pvt. Ltd." in Kottayam and that, M/s KIMS Health Care Management Ltd. approached the defacto complainant and his wife, and as mutually agreed, 55 per cent of their share amount was agreed to be purchased and a new institute, named as "KIMS Bellerose Institute of Medical Sciences Pvt.Ltd." was formed. For the purpose of development of buildings and purchase of paediatric ventilators, a loan of Rs.43 crores was allegedly taken from the South Indian Bank with the connivance of accused 7 and 8, who are officials of the said Bank, and that the entire amount was misutilised and misappropriated by the accused, including the applicants, and money was diverted and invested into other shell companies of the applicants. The defacto complainant came to know that there was no Neurosurgery Department in the hospital, which requires paediatric ventilators, and that no portion of the loan was actually utilised for the purpose of construction of the building for the company, and that inferior quality goods were used for the construction and thereby the applicants have allegedly cheated the defacto complainant and his wife by forging documents and had misappropriated the entire amount for themselves. In the absence of the defacto complainant and his wife, decisions were taken by the Board by conspiracy consisting of the applicants to increase the share to Rs.6,50,00,000/- from Rs.5,50,00,000/-.