Mary Oommen vs State of Kerala

Thomas P. Joseph, J.—Petitioner is the third accused in Crime No. 1084 of 2010 of Kayamkulam Police Station for offences punishable under Sections 17 and 18 of the Money Lenders Act (for short, "the Act"). Prosecution case is that the first accused deceitfully obtained 1.75 kgs. of gold ornaments and pledged it with the Kayamkulam branch of the second accused and obtained a loan. While so, on 18.06.2010 Petitioner/third accused who is the manager of M/s. Muthoot Fincorp Ltd. deposited Rs. .28 lakhs with the second accused, got release of the gold ornaments and pledged the same in the branch of Petitioner. According to the prosecution, Petitioner was not having the required licence under the Act to advance money on security of gold ornaments. It is alleged that Petitioner is therefore guilty of offence punishable u/s 18 read with Section 13 of the Act. Learned Counsel submits that though this Court in the decision in Sundaram Finance Ltd. Vs. State of Kerala, The Secretary to Government, The Commissioner of Commercial Taxes and The General Manager, has held that artificial persons like companies, statutory corporations, societies, etc. also come within the definition of "person" u/s 2(7) of the Act, the said decision is under challenge in the Supreme Court in S.L.P.(C) No. 34057 of 2009. According to the learned Counsel Petitioner is not liable to be proceeded against for offence punishable u/s 18 read with Section 13 of the Act and at any rate, until the Supreme Court finally decided the matter. Learned Public Prosecutor submitted that there is no embargo in the Investigating Agency proceeding with the investigation and submitting final report.

As of now, there is no stay of proceeding against Petitioner or the institution of which she is the manager. As such, this Court is not required to interfere with the investigation and submission of the final report in the matter, at this stage.

Resultantly without prejudice to other rights if any of the Petitioner, this Criminal Miscellaneous Case is dismissed.