MIDHUN DAS Vs. STATE OF KERALA

JUDGEMENT

(1.) The application is filed under Sec. 439 of the Code of Criminal Procedure, 1973("Code', for short), by the first accused in Crime No.61/2024 of the Palakkad Town South Police Station, registered against the accused (two in number) for allegedly committing the offences punishable under Ss. 406, 420 r/w 34 of the Indian Penal Code, Ss. 3,4,5 and 6 of the Prize Chits and Money Circulation Scheme (Banning) Act, 1978 (in short ' PCMCS Act) and Ss. 3 and 21 of the Banning of Unregulated Deposit Schemes Act, 2019 ( 'BUDS Act' in short).

(2.) The essence of the prosecution case is that, the accused 1 and 2 without any sanction or permission collected money from the public for an online project named 'Meta Force'. They made the de facto complainant believe that they are the promoters of the said project. They conducted motivation classes at various hotels in Palakkad Town and induced the general public to deposit money in the said project. The accused 1 and 2 induced the de facto complainant to transfer an amount of Rs.28,77,500.00 to the bank account of the first accused during the period from 1/8/2023 to 31/12/2023. However, the accused failed to give any profit or return the deposited amount to the de facto complainant. Thus, the accused have committed the above offences.

(3.) The petitioner had filed a similar application before the Court of the Additional Sessions Judge-III, Palakkad. However, the court below, by Annexure -4 order, dismissed the bail application.