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Judgment
14 paragraphs · 375 wordsBechu Kurian Thomas, J
This is an application for regular bail filed under Section 439 of the Code of Criminal Procedure, 1973.
The petitioner is the 5th accused in Crime No.1023/2022 of Koipuram Police Station, Pathanamthitta District, alleging commission of offences punishable under Sections 409 and 420 r/w Section 34 of the Indian Penal Code, 1860, apart from Section 5 r/w Section 23, 25(1) and Section 3 r/w Section 21(2)(3) of the Banning of Unregulated Deposit Schemes Act, 2019.
The crime was registered on the allegation that the Directors and the Manager of the Financial Institution, by name PRD MINI NIDHI Company, duped the de-facto complainant into depositing a huge amount by promising to pay higher rate of interest and refused to pay interest or return the deposited amount.
Learned counsel for the petitioner submitted that the petitioner is only an employee of the company and has no role in its management. It is pointed out that this Court had granted bail to the petitioner in similar crimes, as per the order in B.A.No.3429/2023 and connected cases
Heard the learned Public Prosecutor also.
Taking into account the order passed by this Court in B.A.No.3429/2023 and connected cases and the period of detention undergone from 05.04.2023, I am inclined to allow this bail application on the same conditions;
Accordingly, this application is allowed on the following conditions:-
a) Petitioner shall be released on bail on executing a bond for Rs.50,000/- (Rupees Fifty Thousand only) with two solvent sureties each for the like sum to the satisfaction of the jurisdictional Court.
b) The petitioner shall appear before the Investigating Officer for interrogation as and when required.
c) The petitioner shall co-operate with the investigation and shall not, directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the Court or to any police officer.
d) Petitioner shall not leave India without obtaining permission from the jurisdictional court.
e) Petitioner shall not commit any offence of similar nature while on bail.
If any of the above conditions are violated by the petitioner, the jurisdictional Court can cancel the bail in accordance with law.