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Judgment
O R D E R
This application is filed under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023, seeking pre-arrest bail.
The applicants are the accused Nos.1 to 5 in Crime No.490/2026 of Thrikkakara Police Station, Ernakulam District (subsequently transferred to Ponnani Police Station, Malappuram District and re-registered as Crime No.914/2026). The offences alleged are punishable under Sections 316(2) and 112 read with Section 3(5) of the Bharatiya Nyaya Sanhita, 2023.
The prosecution case, in short, is that in the year 2018, the applicants Nos.1 and 2, who were friends of the defacto complainant, approached him and induced him to join their arecanut business as a partner. Believing their representation, the defacto complainant took a room on rent at Kalady within the jurisdiction of Ponnani Police Station, obtained GST and other necessary registrations, and started a company. As instructed by the accused, he also opened bank accounts in ICICI Bank and Axis Bank at Ponnani. Thereafter, on 11.01.2022, as directed by the applicant Nos.1 to 4, the defacto complainant started another company in the name of John Enterprises at Chauhan Bangar, North-East Delhi, obtained GST registration and opened an account with Equitas Small Finance Bank, Chandni Chowk Branch. The accused took possession of the company documents, including signed cheque books. Subsequently, in the year 2023, as instructed by the accused, the defacto complainant opened an account with Indian Overseas Bank, Shalimar Garden Branch, and the signed cheque books relating to the said account were also handed over to the applicants. On 15.04.2024, Rs.2,22,171/- was transferred from Punjab National Bank, Mumbai Branch, to the defacto complainant's account, following which the account was frozen by the Mumbai Cyber Police. Thereafter, upon noticing unauthorized credits from establishments, namely ARHAM Food and KM E-Waste, the defacto complainant informed his bank, resulting in freezing of the said account. The accused thereafter threatened the defacto complainant over the phone. The further allegation is that, by misusing the defacto complainant's bank accounts and company documents, the applicant Nos.1 to 4, in connivance with applicant No.5 and accused No.6, who were their auditors, conducted transactions amounting to approximately Rs.97 crores during the period from 2022 to 2025 through the company's bank accounts. The applicants thereby committed criminal breach of trust and misused the defacto complainant's bank accounts and company records for the purpose of money laundering and tax evasion.
I have heard Sri.S.Rajeev, the learned counsel for the applicants, Sri.Mohammed Nihad, the learned counsel for the defacto complainant and Sri.Thomas Sabu Vadakekut, the learned Public Prosecutor. Perused the case diary.
The learned counsel for the applicants submitted that the applicants are innocent and have been falsely implicated in the above crime. The counsel further submitted that no materials are on record to connect the applicants with the alleged crime; hence, they are entitled to get bail. The learned Public Prosecutor as well as the learned counsel for the defacto complainant, on the other hand, submitted that the alleged incident occurred as a part of the intentional criminal acts of the applicants, and if they are released on bail at this stage, it will affect the course of the investigation.
On a reading of the FIS, it appears that the dispute arose out of a commercial transaction concerning the arecanut business done between the defacto complainant and the applicants. Two similar crimes were registered against the applicants on an identical set of allegations at the Ponnani Police Station as Crime Nos.639/2026 and 791/2026. The applicants were granted pre-arrest bail in those crimes by the Sessions Court, Manjeri. Considering the allegations made against the applicants, their custodial interrogation seems unnecessary. For these reasons, I find this to be an appropriate case to grant pre-arrest bail to the applicants.
In the result, the application is allowed on the following conditions:-
The applicants shall be released on bail in the event of their arrest on executing a bond for Rs.1,00,000/- (Rupees One lakh only) each with two solvent sureties for the like sum each to the satisfaction of the arresting officer/investigating officer, as the case may be.
The applicants shall fully cooperate with the investigation, including subjecting themselves to the deemed police custody for discovery, if any, as and when demanded.
The applicants shall appear before the investigating officer between 10.00 a.m. and 11.00 a.m. every Saturday until further orders. They shall also appear before the investigating officer as and when required.
The applicants shall not commit any offence of a like nature while on bail.
The applicants shall not attempt to contact any of the prosecution witnesses, directly or through any other person, or in any other way try to tamper with the evidence or influence any witnesses or other persons related to the investigation.
The applicants shall not leave the State of Kerala without the permission of the trial Court.
The application, if any, for deletion/modification of bail conditions or cancellation of bail on the grounds of violating the bail conditions shall be filed at the jurisdictional court.