BY AD v. THOMAS J.ANAKKALLUNKAL

STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM, PIN - 682031 OTHER PRESENT: SR.PP-SRI.VIPIN NARAYANAN THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON

20.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: B.A. No. 1907 of 2024 2

O R D E R This is an application for anticipatory bail under Section 438 of the Code of Criminal Procedure, 1973, filed by accused Nos.1 to 3 in Crime No.188 of 2024 of Kuravilangadu Police Station, Kottayam registered under Sections 406 and 420 of IPC and Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019.

The prosecution allegation is that, the petitioners being the Chairman, Managing Director and Director of Nedumpillil Finance, with their intention to make unlawful gain by cheating the father and sister of the defacto complainant, received fixed deposits, amounting to Rs.55,00,000/- from them, and though they paid interest for some period, the balance interest and the principal amount were not returned, and thus they cheated them.

Heard learned counsel for the petitioners and learned Public Prosecutor.

Learned Public Prosecutor opposed the bail application.

When the matter is taken up for consideration, learned counsel for the petitioners submitted that petitioners 1 and 2 B.A. No. 1907 of 2024 3 (A1 and A2) are already arrested and so, this petition has become infructuous as against petitioners 1 and 2. As far as the 3rd petitioner is concerned, according to her, she was a Director of Nedumpillil Finance till 31.10.2022 and as per Annexure A6 document, she tendered her resignation from the Board of Directors with effect from 31.10.2022. Annexure A9 issued from Reserve Bank of India on 22.11.2022 will show that the licence given to Nedumpillil Finance for conducting banking business was cancelled with effect from 22.11.2022. So, learned counsel for the 3rd petitioner would submit that even prior to the cancellation of banking licence issued to Nedumpillil Finance, the 3rd petitioner had ceased to be a Director of that Bank.

Learned Public Prosecutor on instructions submitted that the business of Nedumpillil Finance was being managed mainly by petitioners 1 and 2 (A1 and A2) and they are already arrested and remanded.

Learned counsel for the petitioners would submit that custodial interrogation of the 3rd petitioner is not all needed for the purpose of investigation and moreover, she has got a B.A. No. 1907 of 2024 4 breast feeding child and so also, she may not be sent to jail.

Considering all these aspects, this Court is inclined to allow this application in favour of 3rd petitioner on the following terms . (i) In the event of arrest, the 3rd petitioner shall be released on bail on executing bond for Rs.3,00,000/- (Rupees three lakhs only) with two solvent sureties each for the like sum to the satisfaction of the arresting officer. (ii) Therafter, the 3rd petitioner shall appear before the investigating officer as and when directed. (iii). The 3rd petitioner shall not influence or intimidate the witnesses or tamper with the investigation. (iv). The 3rd petitioner has to surrender her passport before the investigating officer on or before

02.04.2024, and if she is not having a passport, she has to file an affidavit to that effect (v). The 3rd petitioner shall not leave the limits of State of Kerala without getting prior sanction from the trial court. B.A. No. 1907 of 2024 5 (vi). The 3rd petitioner shall not commit any offence while on bail. (vii). In case of violation of any of these conditions, the trial court is empowered to cancel her bail, in accordance with law. Sd/- SOPHY THOMAS JUDGE B.A. No. 1907 of 2024 6 APPENDIX OF BAIL APPL. 1907/2024 PETITIONER ANNEXURES Annexure A1 Annexure A2 Annexure A3 Annexure A4 Annexure A5 Annexure A6 Annexure A7 Annexure A8 Annexure A9 TRUE COPY OF THE FIR IN CRIME NO. 188/2024 OF KURAVILANGADU POLICE STATION, KOTTAYAM TRUE COPY OF THE ORDER 06.12.2022 OF THE HON'BLE HIGH COURT OF KERALA IN W.P(C) NO. 39368/2022 TRUE COPY OF THE ORDER DATED 24.07.2023 IN W.P(C) NO. 23932/2023 OF THE HON'BLE HIGH COURT OF KERALA TRUE COPY OF THE MEDICAL CERTIFICATE OF THE 2ND PETITIONER'S MOTHER DATED 01.03.2024 TRUE COPY OF THE CERTIFICATE OF REGISTRATION DATED 25.09.2002 ISSUED BY RESERVE BANK OF INDIA TRUE COPY OF THE RESIGNATION DATED 31.10.2022 SUBMITTED BY THE 3RD PETITIONER TRUE COPY OF THE RESOLUTION DATED 31.10.2022 PASSED BY THE BOARD OF DIRECTORS ACCEPTING THE RESIGNATION OF 3RD PETITIONER TRUE COPY OF THE CURRENT DETAILS DATED 19.03.2024, OF DIRECTORS OF THE M/S. NEDUMPILLIL FINANCIAL COMPANY LTD. TRUE COPY OF THE LETTER DATED 22.11.2022 ISSUED BY THE RESERVE BANK OF INDIA CANCELLING THE CERTIFICATION OF REGISTRATION