RAJU GEORGE Vs. STATE OF KERALA

JUDGEMENT

(1.) The accused 1 to 4 in Crime No.644/2024 of the Thiruvalla Police Station, Pathanamthitta, have filed these two applications under Sec. 439 of the Code of Criminal Procedure, 1973. The petitioners are indicted for allegedly committing the offences punishable under Ss. 406, 409, and 420, read with Sec. 34 of the Indian Penal Code, and Sec. 4, read with Sec. 22 of the Banning of Unregulated Deposit Schemes Act, 2019 ("BUDS Act", in short).

(2.) BA No.4911/2024 is filed by the first accused, and BA No.4919/2024 is filed by the accused 2 to 4 in the above crime. The second accused is the wife of the first accused, and the accused 3 and 4 are the sons of the accused 1 and 2. As the bail applications arise from the same crime, they are consolidated, jointly heard and disposed of by this common order.

(3.) The prosecution case, in brief, is that the first accused is the Managing Partner, and the accused 2 to 4 are the Partners of M/s.Nedumparambil Credit Syndicate, Thiruvalla. In furtherance of their common intention, the accused had dishonestly induced the de facto complainant to deposit Rs.15.00 Lakh in their firm on the promise that they would pay him 12.5% interest per annum and would return the capital amount as and when requested. However, the accused failed to pay the promised interest and refused to return the capital amount. Thus, the accused have committed the above offences. The petitioners were arrested and remanded to judicial custody on 7/5/2024.