SREEJESH B. Vs. STATE OF KERALA

JUDGEMENT

(1.) Apprehending arrest in Crime No.775/2023 of Chengannur Police Station, Alappuzha, registered for offences punishable under Ss. 406 and 420 of the Indian Penal Code, the accused filed this application under Sec. 438 of the Code of Criminal Procedure seeking pre-arrest bail.

(2.) The prosecution case is that the petitioner is the Managing Director and partner of finance called 'AAAL Group Finance' at Chengannur, Mannar, Thiruvalla, Changanacherry, and Kozhancherry. He has been running the company there sincerely and has made an effort to make the organization flourish. He was successful in the business. He has utilized his best time to put the organization at the topmost level in the financial market. The petitioner used to invest the money in the Share Market, and with the profit arising out of the trade in the financial market, his firm was getting money. However, due to the fluctuations in the share market and the unfortunate situation, a large amount of money was lost in the share market. Some of the employees in his firms plotted against him and collected money from the customers was utilized for their personal use, which he could not find out as he did not check the accounts at the time of Covid 19 as he trusted them. The aforementioned employees took many documents of the firm. He has never taken any money from the firm for his personal use. While being so, a customer Mr.Sreekumar Raman Nair, has lodged a complaint against the petitioner and an FIR No.0775 of 2023 is levelled against the accused. The abovementioned Mr.Sreekumar Raman Nair received Rs.8,00,000.00 from the firm, which includes the total amount along with the interest thereon, and has committed the aforesaid offences.

(3.) I have considered the rival contentions.