Sreejesh B vs State Of Kerala

Mohammed Nias C.P., J

Apprehending arrest in Crime No.775/2023 of Chengannur Police Station, Alappuzha, registered for offences punishable under Sections 406 and 420 of the Indian Penal Code, the accused filed this application under Section 438 of the Code of Criminal Procedure seeking pre-arrest bail.

The prosecution case is that the petitioner is the Managing Director and partner of finance called “AAAL Group Finance” at Chengannur, Mannar, Thiruvalla, Changanacherry, and Kozhancherry. He has been running the company there sincerely and has made an effort to make the organization flourish. He was successful in the business. He has utilized his best time to put the organization at the topmost level in the financial market. The petitioner used to invest the money in the Share Market, and with the profit arising out of the trade in the financial market, his firm was getting money. However, due to the fluctuations in the share market and the unfortunate situation, a large amount of money was lost in the share market. Some of the employees in his firms plotted against him and collected money from the customers was utilized for their personal use, which he could not find out as he did not check the accounts at the time of Covid 19 as he trusted them. The aforementioned employees took many documents of the firm. He has never taken any money from the firm for his personal use. While being so, a customer Mr.Sreekumar Raman Nair, has lodged a complaint against the petitioner and an FIR No.0775 of 2023 is levelled against the accused. The abovementioned Mr.Sreekumar Raman Nair received Rs.8,00,000.00/- from the firm, which includes the total amount along with the interest thereon, and has committed the aforesaid offences.

I have considered the rival contentions.

It is seen that this Court had granted an interim order dated 21/082023, at the time of admission of this case, directing the petitioner to surrender before the Investigating Officer within a week from the date of the order, subjecting himself to interrogation; that, after interrogation, in the event of arrest, the petitioner shall be released on bail upon their executing separate bond for Rs.50,000/- with two solvent sureties each for the like sum to the satisfaction of the Investigating Officer and that, the said order shall be in force for a period of four weeks.

The learned counsel on either side submits that pursuant to the above order, the petitioner has appeared before the Investigating Officer as directed and has been released on bail.

In such circumstances, I am inclined to pass an order making the earlier interim order absolute, subject to the following conditions:

The petitioner shall cooperate with the Investigating Officer and shall appear as and when directed by the Investigating Officer.

The petitioner shall not intimidate or attempt to influence the witnesses, tamper with any evidence, or get involved in similar offences while on bail.

The petitioner shall not leave India without permission of the jurisdictional court.

In case of violation of any of the above conditions, the jurisdictional Court shall be empowered to consider the application for cancellation, if any, and pass appropriate orders in accordance with the law.