SIRAJUDHEEN M.A. Vs. STATE OF KERALA

JUDGEMENT

(1.) The applications are filed under Sec. 439 of the Code of Criminal Procedure, 1973, by the accused 1 and 2 in Crime No.5/2024 of the Cyber Crime Police Station, Pathanamthitta, registered against the accused, for allegedly committing the offences punishable under Ss. 420 and 120B read with Sec.34 of the Indian Penal Code and Sec.66D of the Information Technology Act. The petitioners were arrested and remanded to judicial custody on 4/4/2024.

(2.) The gist of the prosecution case is that; the accused, in furtherance of their common intention, dishonestly induced the de facto complainant to invest money with them by assuring him profit from the share market. Consequently, the de facto complainant transferred an amount of Rs.3,45,11,574.00 to the bank accounts of the accused in various banks. However, the accused failed to pay the profit or return the capital. Thus, the accused have committed the above offences.

(3.) Heard; Sri.K.Rakesh and Sri.Manu Ramachandran, the learned counsel appearing for the petitioners and Smt.Neema T.V, the learned Senior Public Prosecutor.