Madhaiyan K vs State

C.V.Karthikeyan, J

The petitioner/A2, who was arrested and remanded to judicial custody on 17.07.2023, registered for the offences under Sections 120B, 420, 465, 467, 468 and 471 of IPC in Crime No.40 of 2023, on the file of the respondent Police, seeks bail.

2.It is stated that the present petitioner /A2 and A3 had purchased the property from A5. It is alleged that A5 had forged the settlement deed in the year 1982. A2 and A3 had purchased the property in the year 2016 and subsequently, A2 and A3 had further sold the property to A1.

3.In that particular transaction, the sale price was boosted up in order to obtain loan from the State Bank of India, Egmore Branch. There was a transfer of Rs.51 lakhs to the account of the petitioner.

4.The learned counsel for the petitioner stated that the petitioner was not involved in the forgery of the settlement deed and that it was made by A5.

5.A5 died pending the entire process. A1 is still absconding. As against A3 and A4, notice under Section 41(A) Cr.P.C had been issued. The petitioner must co-operate with the investigation. But, he must deposit the amount which had been come over to his account.

6.In view of that particular fact and the period of incarceration, this Court is inclined to grant bail to the petitioner with certain conditions.

7.Accordingly, the petitioner is ordered to be released on bail on condition to execute a bond for a sum of Rs.10,000/- (Rupees Ten Thousand only) with two sureties, each for a like sum to the satisfaction of the learned Additional Chief Metropolitan Magistrate, Additional Court for Trial of Exclusive CCB Cases, Egmore, Chennai and on further conditions that:

[a] the sureties shall affix their photographs and Left Thumb Impression in the surety bond and the Magistrate may obtain a copy of their Aadhar card or Bank pass Book to ensure their identity.

[b] the petitioner may re-deposit a sum of Rs.20 lakhs to the credit of Crime No.40 of 2023 before the concerned Magistrate within a period of two weeks from the date of receipt of a copy of this order.

[c] the concerned Magistrate may retain the amount into Court deposit and on the finality of the trial, if it ends in acquittal, return the amount to the petitioner herein and if it ends in conviction, pay back the same to the defacto complainant/State Bank of India, Egmore Branch.

[d] Since the investigation has to be done, the petitioner shall appear before the respondent Police, everyday at 10.30 a.m., until further orders; If he does not co-operate, the respondent Police are at liberty to file an application seeking cancellation of this order.

[e] the petitioner shall not abscond either during investigation or trial.

[f] the petitioner shall not tamper with evidence or witness either during investigation or trial.

[g] On breach of any of the aforesaid conditions, the learned Magistrate/Trial Court is entitled to take appropriate action against the petitioner in accordance with law as if the conditions have been imposed and the petitioner released on bail by the learned Magistrate/Trial Court himself as laid down by the Hon'ble Supreme Court in P.K.Shaji vs. State of Kerala [(2005)AIR SCW 5560].

[h] If the accused thereafter absconds, a fresh FIR can be registered under Section 229A IPC.