ASHRAF Vs. STATE OF KERALA

JUDGEMENT

(1.) Petitioner herein is the first accused in Crime Nos.609 of 2018, 576 of 2018, 607 of 2018 and 566 of 2018 all of Peravoor Police Station for offence punishable under section 420 of the Indian Penal Code. In all the crimes, identical allegation is that, petitioner herein

(2.) pledged gold bars of 8 items on different occasions from 2017 to 2018, which was spurious one and received a total consideration of Rs.26,20,500/-. It was later identified and crimes were registered. Petitioner herein was arrested on 05.08.2018 in Crime No.553 of 2018 and his formal arrest was recorded in the remaining cases. Petitioner herein seeks bail.

(3.) Opposing the application, learned Public Prosecutor contended that, with the help of the second accused, very serious fraud was played on the bank by pledging spurious gold. It was submitted that the money could not be recovered from the petitioner herein. The second accused has not been arrested even now. Though the allegation against the petitioner herein seems to be serious, he was granted bail in Crime No.553 of 2018.