SAJAN VARGHESE Vs. STATE OF KERALA

JUDGEMENT

(1.) THE four Special Leave Petitions have been filed against a common order passed by the High Court of Kerala in Criminal M. C. Nos. 49/88 and 63/88 filed respectively by the petitioners in the two sets of special leave petitions. Counter affidavits have been filed by respondents 3 and 4.

(2.) FOR the sake of convenience, we will refer to the petitioner in S. L. P. Nos. 1127-28/88 as Sajan K. Varghese and the petitioner in s. L. P. Nos. 1148-49/88 as M/s. Super Film.

(3.) SMOOTH sailing of operations of the Finance Company came to face rough weather when several advertisements of allegedly questionable nature made by the Finance Company came to the adverse notice of the Monopolies and Restrictive Trade Practices Commission and the Commission passed an order restraining the Finance Company from publishing such advertisements. Thereafter the investments by the public in the Finance Company dwindled and the Company came to face a financial crisis when depositors clamoured for return of their deposit amounts. This led to a total cessation of activity of the Finance Company. There was public uproar, and some of the depositors filed a police complaint which resulted in a criminal case being registered against Sajan K. Varghese and he was eventually arrested and remanded to custody.