FAISAL BABU Vs. STATE OF KERALA

JUDGEMENT

(1.) These applications are filed under Section 438 of the Code of Criminal Procedure.

(2.) The petitioner has been arrayed as accused in Crime Nos.2164/16, 2166/16, 2160/16, 2161/16 and 2159/16 of Guruvayoor Police Station registered alleging offence punishable under Sections 406 and 420 r/w Sec.34 of IPC . In some of the cases, he is arrayed as the 2nd accused and in some others, he is the 3rd accused.

(3.) The petitioner herein is a partner of Avathar Jewellery. It appears that in the course of business, the petitioner as well as the other partners accepted money by way of deposits and gold from various persons by assuring them that the amount as well as gold would be returned back with due interest and share of profits. Large sums of money as well as gold was collected from the B.A Nos.5050,5051,5054,5057 & 5069 of 2017 customers. When neither the principal nor the interest was repaid, the customers approached the authorities and filed separate complaints. Allegation was that the petitioner as well as the other partners have misappropriated the amount as well as the gold and thus cheated the victims. Based on the above complaints, separate crimes were registered alleging offence punishable under Sections 406 and 420 of the IPC.