SINDHU. V. NAIR Vs. STATE OF KERALA

JUDGEMENT

(1.) These are Applications for regular bail filed under Sec. 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023. The Applicant in all these applications is the third accused in Crime Nos.713, 887, 886, 1165, 895, 899, 896, 897, 900, 1158, 1191, 1161, 884, 1208, 1156, 1168, 1172, 880, 885, 1164, 877, 888, 898, 712, 1162, 1169, 1177, 1182, 1173, 1188, 883, 906, 876, 1181, 1160, 739, 1189, 905, 882, 1179, 1201, 1163, 1157, 1180, 901, 1207, 894, 893, 892, 891, 890, 1167, 1159, 878, 1166, 904, 1190, 881, 903, 879, 742 and 741 of 2024 of CBCID, Pathanamthitta, registered under Ss. 409, 420, 120B read with 34 of the Indian Penal Code, 1860 and Ss. 3 read with Sec. 21 and Sec. 5 read with Sec. 23 of the BUDS Act, 2019 which includes non-bailable offences. The Applicant was arrested on 6/2/2025 for these Crimes.

(2.) On production before the jurisdictional Magistrate, the Applicant was remanded to judicial custody.

(3.) The allegations against the Applicant are that the accused being the Managing Director of erstwhile PRDS Nidhi Limited which is renamed as G&G Financiers, dishonestly induced the de facto complainants in these Crimes to deposit various amounts on promise to pay 15.5% interest and to return the amounts whenever demanded; that the accused failed to return the amounts with interest. Hence, it is alleged that the accused committed the offence.