Riyas Rahim vs State Of Kerala

Mohammed Nias C.P.J

This is an application for regular bail filed under Section 439 of the Code of Criminal Procedure.

The petitioner is the first accused in Crime No.367/2023 of Binanipuram Police Station, Ernakulam, registered for offences punishable under Sections 420, 406 r/w. 34 of the Indian Penal Code.

The prosecution allegation is that the 1st petitioner was also a victim of the MTFE scam by an international online trading platform and the petitioner also lost nearly 45 lakhs of rupees. 2nd and 3rd petitioners are the wife and mother  of  the  1st petitioner.  The MTFE was  a pyramid model business and the  allegation  against the  1st petitioner  is  that  he introduced the de facto complainant  into  this  online platform, offered  huge  profits and  collected  money  and  all  those payments were misappropriated for his use without making the promised profit. According to the allegation by the aforesaid acts petitioner and other  accused  made  wrongful  gain to the tune of 752366/- lakhs and made the complainant sustain unlawful loss for the   same   amount.   The   accused thereby committed the aforesaid offences.

The learned counsel appearing for the petitioner and the learned Public Prosecutor were heard.

Considering the contention of the petitioner that through cryptocurrency the amount payable to the defacto complainant has been paid and also the fact that the investigating officer had already issued instructions to freeze the account of the petitioner having amounts close to 12 lakhs, under Section 102 of the Cr.P.C., taking into account that fact that the petitioner was arrested on 21.11.2023, that no apprehension is raised by the prosecution that, if released on bail, the petitioner would abscond, I am inclined to grant bail to the petitioner subject to the following conditions:

i. The petitioner shall be released on bail on executing separate bonds for Rs.1,00,000/- (Rupees One lakh only) with two solvent sureties each for the like sum to the satisfaction of the court having jurisdiction;

ii. He shall appear before the Investigating Officer as and when directed to appear.

iii. He shall not intimidate or attempt to influence the witnesses, nor shall they tamper with the evidence or do anything that might adversely affect the trial;

iv. He shall not commit any offence while on bail;

v. He shall not leave India without the permission of the jurisdictional Court and, if he has a passport, shall deposit the same before the Trial Court within a week. If the release of the passports is required at a later period, the petitioner shall be at liberty to move an appropriate application for the same before the Court having jurisdiction.

vi. He shall furnish their present address along with his mobile number to the Court concerned as well as to the investigating officer.

viii. In case of violation of any of the above conditions, the jurisdictional Court shall be empowered to consider the application for cancellation of bail and pass appropriate orders in accordance with law.