NIJEE MAJEED Vs. STATE OF KERALA

JUDGEMENT

(1.) PETITIONERS are accused 15, 14, 17 and 19 in Crime No.491/2011 of Sulthanbathery police station, now being investigated by CBCID, Kozhikode as crime No.182/CR/EOW III/KKD-II registered for the offences under Section 420 of Indian Penal Code and Sections 3 and 4 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978. Apprehending arrest petition is filed under section 438 of Code of Criminal Procedure for anticipatory bail. Learned Senior counsel appearing for the petitioners would contend that the offence under Section 420 of Indian Penal Code or Sections 3 and 4 of Prize Chits and Money Circulation Schemes (Banning) Act is not attracted as against the petitioners and petitioners were implicated for the sole reason that they are Directors of Bizarre Business Corporation Limited and in the absence of a case that petitioners are either in charge of and was responsible for the conduct of the business of the company, petitioners cannot be prosecuted and in any case, in the event of arrest, petitioners are to be released on bail.

(2.) LEARNED Public Prosecutor opposed the petition and made available the case diary and submitted that the report submitted before the Magistrate on 23/11/2011 shows that Memorandum and Articles of association of the company reveals that petitioners are also Directors of the company and investigation reveals that company had swindled Rs.90 lakhs and in such circumstances, proper investigation is necessary and if petitioners are released on bail, it would adversely affect proper investigation.

(3.) IN such circumstances, in the event of arrest of the petitioners they shall be released on bail. Petitioners are directed to report before the INvestigating officer within ten days from today for interrogation. After completing the interrogation petitioners shall be released on bail on executing bond for Rs.20,000/- each with two solvent sureties each for the like sum to the satisfaction of the investigating officer on the following conditions.