Kerala High Court · 2024

THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946 BAIL APPL. NO. 10276 OF 2023 CRIME NO.261/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONERS/ACCUSED NOS.3 TO 5: 1 2 3 DILEEP SHIKHAMONI, AGED 55 YEARS S/O.SHIKHAMONI, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRAVEENA BINEESH, AGED 41 YEARS W/O.BINEESH BALAKRISHNA, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRENI MOHAN, AGED 36 YEARS W/O.RAJESH K.R, SN CHITS FUND & BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENT/COMPLAINANT: STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 SRI.RENJIT GEORGE, SENIOR PUBLIC PROSECUTOR THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 28.05.2024, ALONG WITH BAIL APPL.10271/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :4: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946 BAIL APPL. NO. 10277 OF 2023 CRIME NO.234/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONERS/ACCUSED NOS.3 TO 5: 1 2 3 DILEEP SHIKHAMONI, AGED 55 YEARS S/O.SHIKHAMONI, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRAVEENA BINEESH, AGED 41 YEARS W/O.BINEESH BALAKRISHNA, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRENI MOHAN, AGED 36 YEARS W/O.RAJESH K.R, SN CHITS FUND & BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENT/COMPLAINANT: STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 SRI.M.P.PRASANTH, PUBLIC PROSECUTOR THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 28.05.2024, ALONG WITH BAIL APPL.10271/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :5: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946 BAIL APPL. NO. 10293 OF 2023 CRIME NO.336/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONERS/ACCUSED: 1 2 3 DILEEP SHIKHAMONI, AGED 55 YEARS S/O.SHIKHAMONI, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRAVEENA BINEESH, AGED 41 YEARS, W/O.BINEESH BALAKRISHNA, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRENI MOHAN, AGED 36 YEARS W/O.RAJESH K.R, SN CHITS FUND & BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENT/COMPLAINANT: STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 SRI.M.P.PRASANTH, PUBLIC PROSECUTOR THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 28.05.2024, ALONG WITH BAIL APPL.10271/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :6: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946 BAIL APPL. NO. 10297 OF 2023 CRIME NO.278/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONERS/ACCUSED NOS.7&10: 1 2 DILEEP SHIKHAMONI, AGED 55 YEARS S/O.SHIKHAMONI, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 PRAVEENA BINEESH, AGED 41 YEARS, W/O.BINEESH BALAKRISHNA, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENT/COMPLAINANT: STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 SRI.M.P.PRASANTH, PUBLIC PROSECUTOR THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 28.05.2024, ALONG WITH BAIL APPL.10271/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :7: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 4TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 BAIL APPL. NO. 10304 OF 2023 CRIME NO.271/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONER/ACCUSED NO.1: K.R.SADASIVAN, AGED 85 YEARS, S/O.K.R.KUTTY, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENTS/COMPLAINANTS: 1 STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 *ADDL.R2 M.K. SUKUMARAN, S/O.KESAVAN, SWAMI VILASAM HOUSE, PERUMTHURUTHY, KAVUMBHAGAM, PATHANAMTHITTA DISTRICT. * ADDL.R2 IS IMPLEADED AS PER ORDER DATED 04.06.2024 IN CRL.M.A.NO.1/2024. THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 04.06.2024, ALONG WITH BAIL APPL.10271/2023, 10275/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :8: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 4TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 BAIL APPL. NO. 10305 OF 2023 CRIME NO.234/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONERS/ACCUSED NO.1: K.R.SADASIVAN, AGED 85 YEARS, S/O.K.R.KUTTY, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENTS/COMPLAINANTS: 1 STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 *ADDL.R2 AJITHA SATHYAN, W/O.SATHYAKUMAR, PUNNASSERIL HOUSE, KEECHERIMEL HOUSE, CHENGANNUR (P.O), ALAPPUZHA DISTRICT. * ADDL.R2 IS IMPLEADED AS PER ORDER DATED 04.06.2024 IN CRL.M.A. NO.1/2024 THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 04.06.2024, ALONG WITH BAIL APPL.10304/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :9: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 4TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 BAIL APPL. NO. 10309 OF 2023 CRIME NO.336/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONER/S: K.R.SADASIVAN, AGED 85 YEARS, S/O.K.R.KUTTY, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENTS/COMPLAINANTS: 1 STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 * ADDL.R2 K.V. SOMAN, S/O.VASU, VISHNAVI HOUSE, NELLAD, ERAVIPEROOR, PATHANAMTHITTA DISTRICT. * ADDL.R2 IS IMPLEADED AS PER ORDER DATED 04.06.2024 IN CRL.M.A. NO.1/2024. THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 04.06.2024, ALONG WITH BAIL APPL.10304/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :10: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 4TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 BAIL APPL. NO. 10311 OF 2023 CRIME NO.261/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONER/ACCUSED NO.1: K.R.SADASIVAN, AGED 85 YEARS, S/O.K.R.KUTTY, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENTS/COMPLAINANTS: 1 STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 *ADDL.R2 PURUSHOTHAMAN, S/O.KUNJAPPANKUTTY, NADUVILA HOUSE, MUTHOOR, THIRUVALLA,PATHANAMTHITTA DISTRICT * ADDL.R2 IS IMPLEADED AS PER ORDER DATED 04.06.2024 IN CRL.M.A. NO.1/2024 THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 04.06.2024, ALONG WITH BAIL APPL.10304/2023 AND CONNECTED CASES, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :11: IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE A. BADHARUDEEN TUESDAY, THE 4TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 BAIL APPL. NO. 10312 OF 2023 CRIME NO.162/2023 OF THIRUVALLA POLICE STATION, PATHANAMTHITTA PETITIONER/ACCUSED NO.1: K.R.SADASIVAN, AGED 85 YEARS, S/O.K.R.KUTTY, SN CHITS FUND AND BANKERS, SNDP UNION BUILDING, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689101 BY ADV NIREESH MATHEW RESPONDENT/COMPLAINANT: 1 STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, KOCHI, PIN - 682031 *ADDL.R2 REMA THAMPI, W/O. THAMPI, MANGALATH HOUSE, MUTTATHUPADI, CHEERAMCHIRA (P.O), VAZHAPPALLI, KOTTAYAM DISTRICT. * ADDL.R2 IS IMPLEADED AS PER ORDER DATED 04.06.2024 IN CRL.M.A. NO.1/2024 THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 04.06.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No.10271 of 2023 & Con. Cases :12: COMMON ORDER [Bail Appl. Nos.10271/2023, 10275/2023, 10276/2023, 10277/2023, 10293/2023, 10297/2023, 10304/2023, 10305/2023, 10309/2023, 10311/2023 & 10312/2023] Dated this the 4th day of June, 2024

1. B.A. Nos.10309/2023 & 10293/2023 i) B.A. No.10309/2023 is an application for anticipatory bail filed by the 1st accused in Crime No.336/2023 of Thiruvalla Police Station. B.A. No.10293/2023 is also filed seeking anticipatory bail and the petitioners are accused Nos.3 to 5 in the same crime. ii) The prosecution allegation in this crime is that the 1st accused being the Managing Director and the other accused who are the Directors of M/S. S.N. Chitty Fund and Bankers offered 18% interest (Rs.1,500/- per month for Rs.1 lakh) and on the said offer jointly collected Rs.7 lakhs (Rs.4 lakh from the husband and Rs.3 lakh from the wife) in between 26.05.2019 to 17.06.2019 on assuring them that M/S. S.N. Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as B.A. No.10271 of 2023 & Con. Cases :13: well as cheating punishable under Sections 406 and 420 of the Indian Penal Code ('IPC' for short hereinafter) read with 34 IPC. They also committed offences punishable under Sections Section 3 r/w 21(2), (3), 5 r/w 23, 25(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act).

2. B.A. Nos.10277/2023 & 10305/2023 i) B.A. No.10277/2023 is an application for anticipatory bail filed by the 1st accused in Crime No.234/2023 of Thiruvalla Police Station. B.A. No.10305/2023 is also filed seeking anticipatory bail and the petitioners are accused Nos.3 to 5 in the same crime. ii) The prosecution allegation in this crime is that the 1st accused, being the Managing Director and the other accused who are the Directors of M/s. S.N. Chitty Fund and Bankers jointly collected Rs.13,20,000/- from the defacto complainant offering 12% interest on assuring them that M/S. S.N. Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as well as cheating punishable under B.A. No.10271 of 2023 & Con. Cases :14: Sections 406 and 420 of the Indian Penal Code ('IPC' for short hereinafter) read with 34 IPC. They also committed offences punishable under Sections Section 3 r/w 21(2),(3), 5 r/w 23, 25(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act).

3. B.A. Nos.10304/2023 & 10271/2023 i) B.A. No.10304/2023 is an application for anticipatory bail filed by the 1st accused in Crime No.336/2023 of Thiruvalla Police Station. B.A. No.10271/2023 is also filed seeking anticipatory bail and the petitioners are accused Nos.3 to 5 in the same crime. ii) The prosecution allegation in this crime is that the 1st accused, being the Managing Director and the other accused who are the Directors of M/s. S.N. Chitty Fund and Bankers jointly collected Rs.15,00,000/- from the defacto complainant offering 12% interest from 01.10.2017 to 23.10.2019 on assuring them that M/S. S.N. Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as well as B.A. No.10271 of 2023 & Con. Cases :15: cheating punishable under Sections 406 and 420 of the Indian Penal Code ('IPC' for short hereinafter) read with 34 IPC. They also committed offences punishable under Sections Section 3 r/w 21(2), (3), 5 r/w 23, 25(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act).

4. B.A. Nos.10311/2023 & 10276/2023 i) B.A. No.10311/2023 is an application for anticipatory bail filed by the 1st accused in Crime No.261/2023 of Thiruvalla Police Station. B.A. No.10276/2023 is also filed seeking anticipatory bail and the petitioners are accused Nos.3 to 5 in the same crime. ii) The prosecution allegation in this crime is that the 1st accused is the Managing Director and the other accused who are the Directors of M/s. S.N. Chitty Fund and Bankers jointly collected Rs.44,52,360/- from the defacto complainant offering 10% interest from 08.10.2014 to 12.06.2020 on assuring them that M/S. S.N. Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as well as cheating B.A. No.10271 of 2023 & Con. Cases :16: punishable under Sections 406 and 420 of the Indian Penal Code ('IPC' for short hereinafter) read with 34 IPC. They also committed offences punishable under Sections Section 3 r/w 21(2),(3), 5 r/w 23, 25(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act).

5. B.A. Nos.10312/2023 & 10275/2023 i) B.A. No.10312/2023 is an application for anticipatory bail filed by the 1st accused in Crime No.162/2023 of Thiruvalla Police Station. B.A. No.10275/2023 is also filed seeking anticipatory bail and the petitioners are accused Nos.2 to 4 in the same crime. ii) The prosecution allegation in this crime is that the 1st accused is the Managing Director and the other accused who are the Directors of M/s. S.N. Chitty Fund and Bankers jointly collected Rs.6,00,000/- from the defacto complainant offering 10% interest from 01.06.2019 on assuring them that M/S. S.N. Chitty Fund and Bankers obtained licence from Reserve Bank to run finance business after suppressing the fact that they had no licence to do financial business. Accordingly, they illegally collected the above said amount and they failed to give interest along with the principal amount as agreed and thereby committed breach of trust as well as cheating punishable under B.A. No.10271 of 2023 & Con. Cases :17: Sections 406 and 420 of the Indian Penal Code ('IPC' for short hereinafter) read with 34 IPC. They also committed offences punishable under Sections Section 3 r/w 21(2),(3), 5 r/w 23, 25(1) of the Banning of Unregulated Deposit Schemes Act, 2019 (hereinafter referred to as 'BUDS Act).

6. B.A. No.10297/2023 i) This is an application for anticipatory bail moved by accused Nos.7 and 10 in Crime No.278/2020 of Thiruvalla Police Station. The prosecution allegation in this crime is that the accused being the Directors of M/s. S.N. Chitty Fund and Bankers, where the 1st accused is the Managing Director jointly collected Rs.58,880/- from the wife of the defacto complainant on the premise of a chitty starting from November, 2019 by 25 instalments of Rs.4,000/- each and agreed to give the chitty prize on maturity. Thereafter, the accused misappropriated the said amount and failed to give the chitty prize. ii) The learned counsel for the petitioners argued at length to convince this Court that the accused are innocent. He also pointed out that the petitioners do not have any intention to cheat and defraud the respective defacto complainants/victims at the very inception and they bonafidely collected the amount with intention to pay back. It is B.A. No.10271 of 2023 & Con. Cases :18: argued further that going by the prosecution allegations and the statements of the defacto complainants/victims, payment of interest for some time after deposit of the amount could be noticed. It is also pointed that though the business had been run smoothly by giving interest as offered to the defacto complainants/victims because of Covid 19 intervention, the business became collapsed and the petitioners could not pay the interest or principal amount. Even though the learned counsel for the petitioners attempted to point out absence of ingredients to attract offences under Section 406, 409 and 420 of IPC, the learned counsel failed to substantiate the said argument. Further, the learned counsel miserably failed to substantiate that the offences under the BUDS Act (came into force with effect from 21.02.2019) could not apply in these cases. The learned counsel highlighted the innocence of accused while pressing for anticipatory bail to the petitioners. iii) The learned Public Prosecutor strongly opposed grant of bail and submitted that the petitioners got involved in a huge scam after getting deposits without any licence and thereafter misappropriated the entire amount. It is also submitted that crores of rupees misappropriated from various persons and in this scam, large B.A. No.10271 of 2023 & Con. Cases :19: number of cases were registered and are on investigation. The learned Public Prosecutor also submitted that going by the prosecution records, the allegations are well made out, prima facie. It is submitted that in these cases, arrest and custodial interrogation of the petitioners to investigate upon how the amounts collected were used is very much essential to proceed under the BUDS Act to secure payment to the persons to the extent possible from the available amount/assets. Therefore, without arrest and custodial interrogation of the petitioners effective investigation and successful prosecution is not possible. Therefore, if anticipatory bail is granted in these cases, the same would be fatal to the investigation. iv) It is pointed out the learned Public Prosecutor with the aid of the report of the investigating officer that, apart from these crimes, the petitioners and other Directors have involved in similar crimes, as extracted hereunder:- 16 Previous criminal records of the petitioner, if any Accused in Thiruvalla PS Crime 1833/21 U/s 409,420,34 IPC & Sec 3 r/w 21(2), (3),5 r/w 23, 25(1) of the Banning of Unregulated Deposit Scheme Act-2019 2. Crime 2360/21 U/s 409,420,34 IPC Sec 3 r/w 21(2),(3), 5 r/w 23, 25(1) of the Banning or Unregulated Deposit Scheme Act-2019 3. Сrime 2381/21 U/s 409,420,34 IPC Sec 3 r/w 21(2),(3),5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act-2019 4. Crime 2381/21 U/s 409,420, 34 IPC Sес 3 r/w B.A. No.10271 of 2023 & Con. Cases :20: 21(2),(3),5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act-2019 5. 2443/21 U/s 409,420,34 IPC Sec 3 г/w 21(2), 3,5 r/w23,25(1) of the Banning of Unregulated Deposit Scheme Act-2019 6 2381/21 U/s 409,420,34 IPC Sec 3 r/w 21(2),(3),5 r/w 21(2),(3),5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act-2019 , 7. 2413/21 U/s 409,420,34 IPC Sec 3 r/w 21(2),(3),5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act- 2019 8. 2512/21 U/s 409,420,34 IPC Sec 3 r/w 21(2), (3)5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act-2019, 121/22 U/s 409,420,34 IPC Sec 3 r/w 21(2),(3),5 r/w 23,25(1) of the Banning of Unregulated Deposit Scheme Act, 2019. v) On perusal of the prosecution records, it is emphatically clear that the accused herein run M/S. S.N. Chitty Fund & Bankers without licence or authorisation from the Reserve Bank illegally and the said fact was suppressed carrying a deceitful intention at the very inception while jointly collecting amounts from the victims to cheat and defraud them since offering exorbitant interest is with intention to grab the money, where there is impossibility to pay such exorbitant interest . Though they have given interest for a short period, thereafter they stopped payment of interest and finally they failed to repay the principal amount/s borrowed also as agreed. Thus, as rightly argued by the learned Public Prosecutor, interrogation of the petitioners in B.A. No.10271 of 2023 & Con. Cases :21: custody to find out the manner in which huge amounts were misappropriated and also to collect the details regarding the amounts misappropriated and use of the same are absolutely necessary, to proceed under the BUDS Act and to effectuate the investigation. Therefore, in these cases, grant of anticipatory bail cannot be considered since the same would be fatal to eventful investigation and successful prosecution. In view of the matter, these petitions fail. In the result, all these petitions are dismissed directing the petitioners to surrender before the investigating officer forthwith to facilitate the investigation. Sd/- A. BADHARUDEEN JUDGE B.A. No.10271 of 2023 & Con. Cases :22: APPENDIX OF BAIL APPL. 10271/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.271/2023 OF THIRUVALLA POLICE STATION, DATED 23.02.2023. TRUE PHOTOCOPY OF THE ORDER IN B.A.NO.7366/2021 DATED 01.12.2022. TRUE PHOTOCOPY OF THE ORDER IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :23: APPENDIX OF BAIL APPL. 10275/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.162/2023 OF THIRUVALLA POLICE STATION, DATED 01.02.2023. TRUE COPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE COPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022. B.A. No.10271 of 2023 & Con. Cases :24: APPENDIX OF BAIL APPL. 10276/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.261/2023 OF THIRUVALLA POLICE STATION, DATED 21.02.2023. TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :25: APPENDIX OF BAIL APPL. 10277/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.234/2023 OF THIRUVALLA POLICE STATION, DATED 14.02.2023. TRUE COPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 RUE COPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :26: APPENDIX OF BAIL APPL. 10293/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.336/2023 OF THIRUVALLA POLICE STATION, DATED 09.03.2023 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022. TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :27: APPENDIX OF BAIL APPL. 10297/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.278/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :28: APPENDIX OF BAIL APPL. 10304/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.271/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :29: APPENDIX OF BAIL APPL. 10305/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.234/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :30: APPENDIX OF BAIL APPL. 10309/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.336/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :31: APPENDIX OF BAIL APPL. 10311/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.261/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022 B.A. No.10271 of 2023 & Con. Cases :32: APPENDIX OF BAIL APPL. 10312/2023 PETITIONER'S ANNEXURES Annexure 1 Annexure 2 Annexure 3 TRUE PHOTOCOPY OF THE FIR AND F.I STATEMENT IN CRIME NO.162/2023 OF THIRUVALLA POLICE STATION TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7366/2021 DATED 01.12.2022 TRUE PHOTOCOPY OF THE ORDER PASSED BY THIS HON'BLE COURT IN B.A.NO.7862/2022 DATED 22.12.2022