Radhakrishnan, vs State of Kerala,

Type Court Judgment Court Kerala Decided Mar 23, 2020

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Citation: sooperkanoon.com/1730510
Court: Kerala High Court
Judge: Honourable Mr. Justice P.V.Kunhikrishnan
Decided On: Mar 23, 2020
Case Number: Bail Appl./298/2020

Parties & Advocates

Appellant / Petitioner

Radhakrishnan,

Respondent

State of Kerala,

Excerpt

.....3 and 4 of prevention of money laundering act and sections 3, 4, 5 and 6 of prize chits and money circulation schemes (banning) act, 1978.2. the above case is registered against the petitioner andthe accused no.1 based on a complaint laid by the defacto complainant sri.rahul guptha before the district police chief, palakkad alleging that the petitioner, who is his neighbour approached him to invest rs.7,00,000/- in the 1 st accused's concern viz. gen to gen enterprises on a promise that he would get rs.14,00,000/- within ten months and after 15 days he will get an amount of rs.70,000/-. on 9.5.2019 he invested an amount of rs.7,00,000/- and an agreement was entered into between the defacto complainant and accused no.1 and he will get an amountb.a.no.298/2020 3 of rs.14,00,000/- from them. thereafter, they failed to keep up their promise and on enquiry, it is learnt that they closed the enterprise. by refusing to pay back the money, they cheated the defacto complainant.3. heard the learned counsel for the petitioner and the learned public prosecutor.4. after hearing the learned counsel for the petitionerand the learned public prosecutor, according to me, this is a case in which the power under section 438 cr.p.c can be invoked. the admitted case of the defacto complainant is that he invested rs.7,00,000/- in the 1st accused's concern on a belief that he will get rs.14,00,000/-. it is also admitted that, an agreement is also executed. if that is the case, the defacto complainant can approach civil court. whether any criminal offence is made out is a matter of investigation.5. in the light of the facts and circumstances of thecase, this bail application is allowed on the following conditions: i) the petitioner shall surrender before the investigating officer within ten days from today. ii) in the event of his arrest he shall be released on bail on executing a bond for rs.50,000/- (rupees fifty thousand only) with two solvent sureties each b.a.no.298/2020 4.....

Full Judgment

B.A.No.298/2020 1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT THE HONOURABLE MR. JUSTICE P.V.KUNHIKRISHNAN MONDAY, THE 23RD DAY OF MARCH 2020 / 3RD CHAITHRA, 1942 Bail Appl..No.298 OF 2020 CRIME NO.348/2019 OF KALLADICODE POLICE STATION , Palakkad PETITIONER/ACCUSED NO.2: RADHAKRISHNAN, AGED 48 YEARS S/O RAJAN, MANCHURANDA VEETTIL, ARAPPARA, KALLADIKODE, PALAKKAD. BY ADVS. SRI.A.T.ANILKUMAR SMT.V.SHYLAJA RESPONDENT/COMPLAINANT:
1. STATE OF KERALA,
REPRESENTED BY STATION HOUSE OFFICER, KALLADIKODE POLICE STATION. *ADDL.2. RAHUL GUPTA, S/O.RAMACHANDRAN, SREEKRISHNA VILASAM, ARAPPARA, VAZHAMBURAM, MANNARKKAD TALUK, PIN - 678 582. ADDL. R2 IMPLEADED AS PER ORDER DATED 23.3.2020 IN CRL.M.A.No.1/2020. SRI.REMESH CHAND - PUBLIC PROSECUTOR THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 23.03.2020, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: B.A.No.298/2020 2

ORDER

Dated this the 23rd day of March, 2020

The petitioner is the 2nd accused in Crime No.348/2019 of Kalladikkode Police Station, Palakkad District. The above case is registered alleging the offences punishable under Sections 406 and 420 r/w 34 of the Indian Penal Code, Sections 3 and 4 of Prevention of Money Laundering Act and Sections 3, 4, 5 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

2. The above case is registered against the petitioner and

the accused No.1 based on a complaint laid by the defacto complainant Sri.Rahul Guptha before the District Police Chief, Palakkad alleging that the petitioner, who is his neighbour approached him to invest Rs.7,00,000/- in the 1 st accused's concern viz. Gen to Gen Enterprises on a promise that he would get Rs.14,00,000/- within ten months and after 15 days he will get an amount of Rs.70,000/-. On 9.5.2019 he invested an amount of Rs.7,00,000/- and an agreement was entered into between the defacto complainant and accused No.1 and he will get an amount

B.A.No.298/2020 3 of Rs.14,00,000/- from them. Thereafter, they failed to keep up their promise and on enquiry, it is learnt that they closed the enterprise. By refusing to pay back the money, they cheated the defacto complainant.

3. Heard the learned counsel for the petitioner and the learned Public Prosecutor.

4. After hearing the learned counsel for the petitioner

and the learned Public Prosecutor, according to me, this is a case in which the power under Section 438 Cr.P.C can be invoked. The admitted case of the defacto complainant is that he invested Rs.7,00,000/- in the 1st accused's concern on a belief that he will get Rs.14,00,000/-. It is also admitted that, an agreement is also executed. If that is the case, the defacto complainant can approach civil court. Whether any criminal offence is made out is a matter of investigation.

5. In the light of the facts and circumstances of the

case, this bail application is allowed on the following conditions: i) The petitioner shall surrender before the investigating officer within ten days from today. ii) In the event of his arrest he shall be released on bail on executing a bond for Rs.50,000/- (Rupees fifty thousand only) with two solvent sureties each B.A.No.298/2020 4 for the like sum. iii) The petitioner shall appear before the investigating officer as and when required. Sd/- P.V.KUNHIKRISHNAN ab JUDGE

Same Court & Year Kerala · 2020 Same Parties Radhakrishnan, vs State of Kerala, Same Judge Honourable Mr. Justice P.V.Kunhikrishnan