V.P.NANDAKUMAR Vs. STATE OF KERALA

JUDGEMENT

(1.) This Crl.M.C has been filed to quash all further proceedings pursuant to Annexure-3 F.I.R. in Crime No. 376/2022 of Valappad Police Station, Thrissur District.

(2.) The petitioner is the accused. The respondent No.1 is the defacto complainant. The offences alleged against the petitioner are punishable under Sec. 420 of the IPC. The prosecution case in short is as follows: The respondent No.1 is a shareholder of Malappuram Finance Ltd. During the years 2010-2012, the petitioner formed a proprietary concern by name Manappuram Agro Farms and in order to commit criminal breach of trust, he collected nearly Rs.150.00 crores from the public. When the Reserve Bank of India interdicted the company from doing such business, the petitioner returned nearly Rs.20.00 crores back to the distributors. According to the respondent No.1, Manappuram Agro Farms was not permitted to accept deposits from the public. The petitioner has illegally collected those deposits only for undue pecuniary advantage.

(3.) I have heard Sri.P.Vijaya Bhanu, the learned Senior Counsel for the petitioner and Sri.M.T.Suresh Kumar, the learned Counsel for the respondent No.1 as well as Smt.S.Rekha, the learned Senior Public Prosecutor.