M.Manogaran vs State

T.V.Thamilselvi, J

The petitioner, who was arrested and remanded to judicial custody on 31.01.2024 for the alleged offence under Section 406 and 420 of I.P.C. in Crime No.1 of 2024 on the file of the respondent police, seeks bail.

The case of prosecution is that the petitioner and the defacto complainant are friends and that A1 informed the defacto complainant to invest in a concern viz., M/s.Vegroks Crypto Currency to get Rs.18,000/- for every Rs.1 lakh invested. On believing the same, the defacto complainant gave a sum of Rs.1 lakh on 19.02.2022 in a tea stall situated opposite to the Collectorate, Kancheepuram District followed by transfer of Rs.15,000/- on 19.02.2022, Rs.90,000/- on 25.02.2022 and Rs.5000/- on 26.02.2022, thereby between the period from 18.02.2022 to 29.07.2022 he had transferred the amount nearly around Rs.66,00,000/- from his personal account and the account of his family members through GPay and thereafter, he got back a sum of Rs.17,64,400/- through Net banking and Rs.18,000/-per month between March and June 2022, totally a sum of Rs.20,64,400/-till June 2022. Thereafter, the petitioner has not paid the amount. Hence, the complaint was registered against the petitioner.

The learned counsel appearing for petitioner submitted that there is no specific overtact attributed against the petitioner and he was falsely implicated in this case. He would submit that he has not made any false representation as stated by the defacto complainant and he is no way connected with the offence. He would submit that he has not at all committed any of offence as alleged by the respondent police and he has been falsely implicated in this case and he will abide by any condition that may be imposed by this court. He would further submit that the investigation is almost completed and that the petitioner has been suffering incarceration for more than 62 days from 31.01.2024. Hence, he prayed to grant bail to the petitioner.

The learned Government Advocate (Crl. Side) appearing for respondent would submit that on believing the terms of investment and to get amount of Rs.18,000/- for every Rs.1 lakhs, the defacto complainant transferred the amount nearly about Rs.66 lakhs to the account of petitioner and now part of amount was paid and there is a balance amount is in due. But, the petitioner failed to repay the balance amount. He would submit that that if he is released on bail, he would tamper the witnesses and hamper the investigation and the investigation is almost completed. Hence, he vehemently opposed to grant bail to the petitioner.

On seeing the facts, it reveals that both were inducted in some business and out of business transaction, the defacto complainant transferred the amount around Rs.66 lakhs and now part of amount was paid, but there is a balance amount is to be paid. Therefore, on considering the facts and circumstances and the fact that investigation is almost completed and also considering the period of incarceration undergone by the petitioner from 31.01.2024 for more than 62 days, this Court is inclined to grant bail to the petitioner subject to the following conditions:

Accordingly, the petitioner is directed to deposit a sum of Rs.7,00,000/- (Rupees seven lakhs only) into the credit of Crime No.1 of 2024 before the concerned Magistrate within a period of two weeks from the date of receipt of copy of this order and on such deposit, the defacto complainant is permitted to withdraw the amount on production of proper identification and acknowledgement, and 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, in which one surety must be a blood surety, for a like sum to the satisfaction of the learned Judicial Magistrate No.1, Kanchipuram, and on further conditions that:

(a) the sureties shall affix their photographs and Left Thumb Impression in the surety bond and the learned Magistrate may obtain a copy of their Aadhar Card or Bank Pass Book to ensure their identity;

(b) the petitioner shall report before the respondent police on every Wednesday at 10.30 a.m. for the period of three months ;

(c) the petitioner shall not commit any offences of similar nature;

(d) the petitioner shall not abscond either during investigation or trial;

(e) the petitioner shall not tamper with evidence or witness either during investigation or trial;

(f) on breach of any of the aforesaid conditions, the learned Judicial 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];

(g) if the accused thereafter absconds, a fresh FIR can be registered under Section 229A IPC.