M.K BIJU Vs. STATE OF KERALA

JUDGEMENT

(1.) This is an application for regular bail.

(2.) Petitioner is the 5th accused in Crime No.49 of 2022 of Crime Branch, Thrissur registered alleging commission of offences punishable under Ss. 406,420,409,465,468 and 471 r/w 34 of IPC.

(3.) The allegation is that with a fraudulent intention to cheat the defacto complainant, Karuvannur Service Co-operative Bank and its customers, on 8/4/2017, A1 to A3 entered into an agreement for sale with the defacto complainant in respect of his 1 Acre 98 Cent land for an amount of Rs.2,03,94,000.00 out of which A1 to A3 had paid an amount to the tune of 23,68,000/- to the defacto complainant, and promised to provide purchase loan from Karuvannur Service Cooperative Bank for the balance amount owed to him and also issued 6 cheques in his favour. A1 to A3 then obtained the signature of the defacto complainant in various papers and A2 pledged his title deed and availed a loan of 2 Crores without his consent or knowledge. During the investigation, it is also revealed that A4 and A5 who were the Secretary and Accountant respectively, of the said bank colluded together by granting the MDS linked loan to A2 in violation of bye-laws of the bank and the Kerala State Co operative Act and Rules, thereby caused wrongful loss to the defacto complainant and cheated him, the Bank and it's customers. Thus, the accused are alleged to have committed the above-mentioned offences.