KANNAN Vs. STATE OF KERALA

JUDGEMENT

(1.) These Bail Applications are filed under Sec. 482 of the Bharatiya Nagarik Suraksha Sanhita. The petitioner in these bail applications is the same person and therefore I am disposing of these bail applications by a common order.

(2.) The petitioner is an accused in Crime Nos.371/2024, 461/2024, 499/2024, 747/2024, 388/2024, 500/2024, 31/2025, 549/2024, 550/2024, 34/2025, 551/2024, 47/2025, 379/2024, 380/2024, 455/2024, 68/2025, 381/2024, 350/2024, 498/2024, 552/2024, 553/2024, 554/2024, 555/2024 & 556/2024 of Vadanapally Police Station, Thrissur. The above cases are registered against the petitioner alleging offences punishable under Ss. 406, 420 read with Sec. 34 of the Indian Penal Code (for short 'IPC'), 1860 and also under the provisions of the Banning of Unregulated Deposit Schemes Act (for short 'BUDS Act').

(3.) The prosecution case is that the Pravasi Syndicate Chits Private Limited (Malayali Kshema Nidhi Limited) is operated by accused Nos.1 and 2. They assured the de-facto complainants in these cases that, they would provide 12% interest on the deposited amount. Relying on this, the defacto complainants in these cases deposited the amount. However, they did not obtain the principal amount or the promised interest. Hence it is alleged that the accused committed the above said offences.