SAYEED M. K. Vs. STATE OF KERALA

JUDGEMENT

(1.) These Bail Applications are filed under Sec. 483 of Bharatiya Nagarik Suraksha Sanhita (BNSS). These Bail Applications are connected and therefore, I am disposing of these cases by a common order.

(2.) Petitioner in these cases are one and the same. The above cases are registered under Ss. 316(2), 318(4) r/w 3(5) of the Bharatiya Nyaya Sanhita (BNS), 2023 and also under Sec. 420 of the Indian Penal Code.

(3.) The prosecution case in all these cases is that, the petitioner who have 50% share in the ' Nice Sleep Company' which owns a chain of hostel for men and women, invited the defacto complainants in these cases for investment. The defacto complainants invested huge amount in the company. Thereafter, from 23/10/2024 onwards, the 1st accused informed the investors that the company is suffering a loss and the invested amount will be returned after 1.5 years after settling the profit and loss. Thereafter, 1st accused executed a Power of attorney in favour of the 2 nd accused misrepresenting that the authority to run the company is with the 2 nd accused. It is alleged that the accused persons misappropriated the money received from the investors. Hence, it is alleged that the accused committed the offences.