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Judgment
P.Dhanabal, J
The petitioners seek bail in Crime No.25 of 2023 on the file of respondent police for the offences punishable under Sections 406, 420 IPC. The petitioners were arrested and remanded to custody on 15.11.2023.
The case of the prosecution is that the petitioners along with other accused, in the guise of running a business in the name of NKB Financial Services, have collected a sum of Rs.1.50 crores from the general public and they neither obtained loan nor returned the money and thereby, cheated them. Hence, the case.
Learned counsel for petitioners submitted that the petitioners are the staffs of the said Company and they were also been cheated by not giving their salary as the prime accused found absconding and been arrested subsequently. He further submitted that the petitioners are no way connected with the alleged offences and they are ready to abide by any condition imposed by this Court. Hence, he prays for grant of bail to the petitioners.
Learned Additional Public Prosecutor submitted that the petitioners along with other accused, in the guise of running a finance Company, have collected a sum of Rs.1.50 crores from general public and failed to obtain loan and thereby cheated them. She also submitted that there are totally 23 previous cases against the petitioners similar of nature in Tiruppur, Pudukottai and Kanyakumari Districts.
Considering the gravity of offence and considering the number of previous cases against the petitioner and also considering the fact that the main accused has not yet been arrested and investigation is pending, at this stage, I am not inclined to grant bail to the petitioners.
6.Accordingly, this Criminal Original Petition stands dismissed.