Vishnu Prasad P vs State Of Kerala

Viju Abraham, J.

These are applications for anticipatory bail.

B.A. No.1914 of 2022 is filed by the 2nd accused and B.A. No.1982 of 2022 is filed by the 1st accused in Crime No.158 of 2022 of Vanchiyoor Police Station registered alleging commission of offences punishable under Sections 403, 405, 420 and 120B read with Section 34 of the Indian Penal Code.

The contention of the petitioner in B.A .No.1982 of 2022 who is the 1st accused is that he was the area business manager of the defacto complainant institution. The petitioner has no liability to the transaction between the defacto complainant and the other accused in the above case. The duty of the branch manager of the defacto complainant is to visit the properties where the value of the same exceeds Rs. 40 lakhs. The accused nos. 3 and 4 have valued the landed properties. There is no specific role for the petitioner in the allegation raised by the prosecution. The petitioner submitted resignation letter to the defacto complainant on 13.07.2021. The resignation was approved by the defacto complainant and he was relived on 06.10.2021 from the defacto complainant institution. During his period of service, his conduct was satisfactory and there is no allegations or any corruptions. Only after 4 months the petitioner was relieved from the defacto complainant’s institution, the entire allegation has been raised against him.

The contention of the petitioner in B.A. No.1914 of 2022 who is the 2nd accused is that the only allegation against him is that he has taken the photograph of terrace building nearby instead of a tiled roof building situated in the property presented for loan. He was was only a Sales officer in the defacto complainant's institution, which is a lowest grade employee in the defacto complainant's institution. Petitioner’s responsibility is to collect the documents from the customers and submit to the defacto complainant's institution and obey the instruction from the defacto complainant's office. Petitioner took photographs of the said building and property based on the location sent by the then branch manager, 1st accused in the crime. It is the duty of the branch credit manager and valuators to visit the site and prepare the valuation report. The petitioner is innocent and has no connection with the submission of valuation report and disbursal of the said loan amount. Though the petitioner approached Additional Sessions Court, Thiruvananthapuram seeking anticipatory bail, it was dismissed.

The petitioners further submitted that the 4th accused is already granted anticipatory bail by this Court in B.A.No.4245 of 2022 and accused Nos. 6 and 7 in B.A.No.1765 of 2022 and the 3rd  accused by the Sessions Court, Kozhikode in Crl. M.C No.576 of 2022.

The defacto complainant entered appearance through counsel and opposed the application for bail mainly contending that due to the fraudulent acts of the petitioners and other accused, the financial institution has sustained a huge loss and this court should take a serious stand in matters of economic offences and to substantiate the contentions, the petitioners rely on the judgment in P.Chidambaram v. Directorate of Enforcement, (2019) 9 SCC 24 and Serious Fraud Investigation Office v. Nittin Johari and another, (2019) 9 SCC 169.

It is seen that accused Nos.3, 4, 6 and 7 are already granted anticipatory bail. When the matter came up for consideration on an earlier occasion, this Court issued a direction to the petitioners to appear before the investigating officer and make themselves available for interrogation. When the matter was taken up for consideration, the learned Public Prosecutor upon instructions submitted that the petitioners have appeared before the investigating officer and fully cooperated with the investigation.

Considering the facts and circumstances of the case and the nature of the allegation, I am inclined to grant bail to the petitioners. In the result, the applications are allowed. The petitioners shall surrender before the Investigating Officer in Crime No.158 of 2022 of Vanchiyoor Police Station on 25.01.2023 and shall make themselves available for interrogation on that day. The petitioners shall co-operate with the investigation. In the event of the arrest of the petitioners in Crime No.158 of 2022 of Vanchiyoor Police Station, they shall be produced before the jurisdictional court on the very same day and shall be released on bail subject to the following conditions.

(i) The petitioners shall execute a bond for a sum of Rs.50,000/-(Rupees fifty thousand only) each with two solvent sureties each for the like sum to the satisfaction of the Jurisdictional court.

(ii) They shall appear before the investigating officer in Crime No.158 of 2022 of Vanchiyoor Police Station as when required by the investigating officer.

(iii) They shall not attempt to influence the defacto complainant or interfere with the investigation or to influence or intimidate any witness in Crime No.158 of 2022 of Vanchiyoor Police Station.

(iv) They shall not involve in any other crime while on bail.

If any of the aforesaid conditions are violated, the investigating officer in Crime No.158 of 2022 of Vanchiyoor Police Station may file an application before the jurisdictional Court, for cancellation of bail.

It is made clear that it is within the power of the police to investigate the matter and if necessary to effect recoveries on the information if any given by the petitioners even when any of the petitioners are on bail as per the judgment of the Apex Court in Sushila Aggarwal and others v. State (NCT of Delhi) and another (2020 (1) KHC 663).