ABDUL MANSHEEF Vs. STATE OF KERALA

JUDGEMENT

(1.) The application is filed under Sec.439 of the Code of Criminal Procedure by the fifth accused in Crime No.444 of 2022 of the Kuthuparamba Police Station, Kannur, registered against the accused, for allegedly committing the offences punishable under Ss. 406, 420, 201 and 204 read with Sec.34 of the Indian Penal Code, Secs.3,4 and 5 of Prize Chits and Money Circulation Schemes (Banning) Act, Sec.66D of the Information Technology Act and Sec.3 read with Sec.21(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act). The petitioner was arrested on 19/5/2024.

(2.) The essence of the prosecution case is that: the accused, in furtherance of their common intention, collected deposits from the de facto complainant from 8/7/2020 onwards on the assurance that they would give profit on the investment. They collected a total amount of Rs.2.086 crore from the de facto complainant and deposited in the company named 'My Club Trading'. However, the accused failed to pay any profit to the de facto complainant or return the capital. Thus, the accused have committed the above offences.

(3.) Heard: Sri.Aswanth P.T, the learned counsel for the petitioner and Smt.Seetha.S, the learned Public Prosecutor.