T.A. KISHORE Vs. STATE OF KERALA

JUDGEMENT

(1.) This is an application for regular bail filed under Sec. 439 of the Code of Criminal Procedure, 1973.

(2.) Petitioners are accused Nos.3 and 4 in Crime No.433 of 2019 of Ollur Police Station registered for the offences punishable under Ss. 406 and 420 r/w Sec. 34 of the Indian Penal Code, 1860 and also under Ss. 4, 5, 12, 18 r/w 76 and 76(2) of the Chit Funds Act, 1982.

(3.) The prosecution case is that, petitioners, who are the Managing Director and Director of the first accused company, had collected large sums of money from the defacto complainant and others under a chitty scheme started by them in 2013 and thereafter committed default in repayment of the chitty amount to the subscribers and thereby committed the offences alleged against them.