MUHAMMED FAIZAL Vs. STATE OF KERALA

JUDGEMENT

(1.) The application is filed under Sec. 439 of the Code of Criminal Procedure, 1973, by the second accused in Crime No.1202/2021 of the Town West Police Station, Thrissur, registered against the accused for allegedly committing the offences punishable under Ss. 406 and 420 r/w Sec. 34 of the Indian Penal Code and Sec. 3 r/w Sec. 21 of the Banning of Unregulated Deposit Scheme. The petitioner was arrested and remanded to judicial custody on 3/5/2024.

(2.) The crux of the prosecution case, is that; the accused, in furtherance of their common intention, had registered a trading company named 'My Club Traders' and induced the defacto complainant to deposit Rs.10,38,000.00 on the assurance of paying him a monthly profit of Rs.20,000.00. However, the accused failed to pay the assured profit or return the capital. Thus, the accused have committed the above offences.

(3.) Heard; Sri. P.Mohamed Sabah, the learned counsel appearing for the petitioner and Smt. Seetha.S, the learned Public Prosecutor.