DILEEP SHIKHAMONI Vs. STATE OF KERALA

JUDGEMENT

(1.) Dileep Shikhamoni, who is the 3rd accused in Crime Nos.336/2023, 234/2023, 261/2023, 162/2023, 596/2023, 271/2023, 907/2023 and 1734/2023 of Thiruvalla Police Station, Pathanamthitta, and Praveena Bineesh who is the 4th accused in Crime Nos.162/2023, 271/2023, 907/2023, 261/2023, 596/2023, 234/2023, 336/2023 and 1734/2023 of Thiruvalla Police Station, Pathanamthitta, seek regular bail in these petitions filed under Sec. 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS for short hereinafter).

(2.) Heard the learned counsel for the petitioners in all these petitions and the learned Public Prosecutor in detail. Perused the records available, including the reports submitted by the Investigating Officer.

(3.) The prosecution case-18in- Crime No.336/2023 is that the 1st accused being the Managing Director and accused Nos.2 to 5, who are the Directors of M/s.S.N.Chitty Fund and Bankers offered 18% interest (Rs.1,500.00 per month for Rs.1.00 lakh) and on the said offer jointly collected Rs.7.00 lakhs (Rs.4.00 lakh from the husband and Rs.3.00 lakh from the wife) in between 26/5/2019 to 17/6/2019 on assuring them that M/s.S.N.Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as well as cheating punishable under Ss. 406, 409 and 420 r/w 34 of the Indian Penal Code ('IPC' for short hereinafter). They also committed offences punishable under Sec. 3 r/w 21(1)(2),(3) and Sec. 5 r/w 23 and 25(1)-9-of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act').