M.ESWARAPPAN Vs. STATE

JUDGEMENT

(1.) This Criminal Original Petition has been filed challenging the order passed by the Court below dismissing the application filed by the petitioner seeking for statutory bail under Sec. 167(2) of the code of Criminal Procedure.

(2.) Heard Mr.A.Damodaran, learned Additional Public Prosecutor and Mr.G.Prabhakaran, learned counsel for the respondent.

(3.) The respondent police registered an F.I.R. in Crime No.08 of 2022 for offence under Sec. 5 of Tamil Nadu Protection of Interests of Depositors Act, 1997 (hereinafter called as the TANPID Act) and 420 of I.P.C. on 21/7/2022, based on the complaint given by one V.Sundaram wherein, he stated that he had deposited money with the company and the same was not repaid back/ refunded after maturity. Similar such complaints started piling up before the respondent police and ultimately, 1368 complaints were received by the respondent police and it came to light that the company and its directors did not return back more than Rs.104,42,88,227.00.