Sulfikker M A vs State Of Kerala

C.Jayachandran, J

The petitioner, in this application for regular bail, is the sole accused in Crime No.685/2021 of Walayar Police Station. The offence alleged is one under Section 420 of the IPC.

The prosecution would allege that the accused, with intention to deceive the defacto complainant, dishonestly induced him to invest amounts in his firm by name 'Coin Way Solution' and promised him to pay interest at the rate of 12% per annum. Accordingly, the defacto complainant invested Rs.22,00,000/-(Rupees Twenty two lakhs only) on 11.10.2019. However, he was neither paid the invested amount; nor the interest, thus committing the offence enumerated above.

Heard the learned counsel for the petitioner and the learned Public Prosecutor. Perused the records. This application was opposed by the learned Public Prosecutor.

Having heard the learned counsel appearing on both sides, this Court is inclined to allow this bail application. This Court takes stock of the fact that the petitioner is in judicial custody for the past 23 days, he having been arrested and remanded on 24.04.2022. The purpose of interrogation should have been amply served by this time. This Court also takes into account the existence of Crime No.788/2021 of Mananthavady Police Station, wherein allegations are made to the effect that the defacto complainant abducted the petitioner and assaulted him, resulting in grievous injuries. The offences alleged in that crime includes the one under Sections 364A, 324, 342, 379 etc. That apart, the learned Public Prosecutor, on instructions, would confirm that the petitioner has no criminal antecedents whatsoever. This Court is, therefore, of the view that no useful purpose is to be served by incarcerating the petitioner any more.

In the result, this Bail Application is allowed and the petitioner is directed to be released on bail on execution of bond for Rs.50,000/- (Rupees Fifty Thousand only) with two solvent sureties, each for the like amount, to the satisfaction of the trial court, subject to the following conditions:

(i) He shall appear before the investigating officer on every Saturday between 10 a.m and 11 a.m for a period of two weeks and thereafter, once in a month for a period of two months and thereafter, as and when required by the investigating officer.

(ii) He shall not attempt to influence or intimidate the witnesses or tamper with evidence.

(iii) He shall not indulge himself in any other offence while on bail.

(iv) He shall not leave India, except with prior permission of the trial court.

In case of breach of any of the bail conditions, the prosecution shall be at liberty to approach the trial Court for cancellation of the bail.