BABY KUTTAN Vs. STATE OF KERALA

JUDGEMENT

(1.) This Bail Application filed under Sec. 438 of Criminal Procedure Code, 1973.

(2.) Petitioners are accused Nos.1 and 2 in Crime No. 2024/2023 of Eravipuram Police Station. The above case is registered against the petitioners, alleging offences punishable under Sec. 420 r/w Sec. 34 of the Indian Penal Code, 1860.

(3.) The prosecution case is that, the de facto complainant is the Area Manager of Cholamandalam Investments and Finance Pvt. Ltd., Kollam, engaged in the business of providing vehicle loan. Accused herein are the Managing Directors of M/s.Kalikkasseril Motors Pvt. Ltd., engaged in the sale of commercial vehicles. Though dealership run by the accused, two customers, by name 'Smt.Fathima Beevi and Muhammed Basheer', had approached the de facto complainant's office for a loan and based on the said application, a vehicle loan of Rs.5,09,339.00 was granted to Fathima Beevi and a loan of Rs.4,33,500.00 was granted to Muhammed Basheer, and a total of Rs.9,42,839.00 was transferred to the Bank account of the accused maintained at Federal Bank, Kadappakada Branch, Kollam. But the accused failed to deliver the vehicle or return the amount as promised. Hence, it is alleged that the accused committed the offences.