SUGUNAN Vs. STATE OF KERALA

JUDGEMENT

(1.) This application is filed under Sec. 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short, BNSS), seeking prearrest bail.

(2.) The applicants are the accused Nos.1 and 3 in Crime No.1404 of 2025 of Ernakulam Central Police Station, Ernakulam District. The offences alleged are punishable under Ss. 406 and 420 read with Sec. 34 of the Indian Penal Code.

(3.) The prosecution case, in short, is that in order to cause wrongful loss to the defacto complainant and wrongful gain to the applicants, who are conducting a financial business in the name "Metro City Nidhi Ltd.", the applicants induced the defacto complainant to invest money in a recurring deposit scheme. During the period between 13/7/2022 and 12/7/2025, the defacto complainant deposited an amount of Rs.9,97,724.00. The applicants failed to pay the maturity amount and thus committed the above mentioned offences.