THOMAS DANIEL Vs. STATE OF KERALA

JUDGEMENT

(1.) Application under Section 439 Cr.P.C for regular bail.

(2.) The applicants are accused 1 to 4 in Crime No.1740/2020 of Konni Police Station for having allegedly committed offences punishable under Sections 406 and 420 read with Section 34 of the IPC and Section 5 of the Kerala Protection of Interest of Depositors in Financial Establishments Act, 2013 (Act 7 of 2015), Sections 3, 21(2) (3), and 5 read with Sections 23 and 25(1) of the Banning of Unregulated Deposits Scheme Act 2019, Section 45-S of the Reserve Bank of India Act, 1934, Sections 17 and 18 of the Kerala Money Lenders Act, 1958 and Section 5 of the Kerala Protection of Interests of Depositors in Financial Institutions Act, 2013 (7 of 2015). The second applicant is the wife of the first applicant and the rest of the accused are their daughters.

(3.) The prosecution case is that the accused who are the Managing Directors and Directors of M/s.Popular Finance dishonestly induced the de facto complainant Aniyamma Koshy to deposit a sum of Rs.8,00,000/- in MRPN Popular Exports Ltd. on 18.10.2019, and a sum of Rs.10,00,000/- for a period of five years in My Popular Marine Products LLP and also made the de facto complainant and her husband George Babu to deposit an amount of Rs.5,00,000/- on 10.08.2018 promising to pay interest at rate of 12 % every month and to deposit an amount of Rs.3,00,000/- on 01.12.2018 in Mary Ranny Trading LLP, Pathanamthitta Branch, and thus obtained a total amount of Rs.26,00,000/- and promised them that the amount would be doubled in 7 years. However, the accused by not paying the amount promised when asked for a refund, committed criminal breach of trust and cheated the de facto complainant and her husband. Moreover, they also committed the offences under the other statutes by violating the provisions of law prescribed therein.