ABDUL GAFOOR Vs. STATE OF KERALA

JUDGEMENT

(1.) This application is filed under Section 439 of the Code of Criminal Procedure.

(2.) The applicant herein is the accused in Crime No.796 of 2017 registered at the Tirur Police Station under Section 420 r/w. Sec.34 of the IPC.

(3.) According to the prosecution, one Jayachandran, who is arrayed as the 1st accused in the subject Crime, is the Managing Director of M/s. Accomplish Marketing Pvt. Ltd., a registered Company, which used to carry on jewellery business in the name and style as "M/s. Thunjath Jewellery" at Tirur. Various schemes were run by the 1st accused as per which, his customers were persuaded to invest money and they were assured substantial profit by way of interest, dividend, and gifts in the form of gold. The de facto complainant was appointed as one of the agents by the 1st accused. He is alleged to have collected a sum of Rs.50,00,000/- from various individuals by assuring them that numerous benefits would be given by the Company. Alleging that the 1st accused failed to return the deposit or disburse any sum by way of profit, a complaint was lodged by the de facto complainant before the Station House Officer of the Tirur Police Station. In the course of investigation, the Directors of the Company, which include the applicant herein, were roped in. As many as 70 Crimes were registered at various Police Stations. The applicant herein, who was arrayed as the accused, was arrested in one of those crimes, on 17.10.2017. He has been languishing in custody since then. In the instant Crime, his formal arrest was recorded on 29.8.2018. He filed an application for bail before the learned Magistrate, which was dismissed. Hence this application.