Madras High CourtCRL OP(MD)/4150/2020dismissed

G.Vasantha v. The Inspector Of Police

2020-03-05Honourable Dr Justice G. Jayachandran2 pages

CRL OP(MD). No.4150 of 2020 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT ( Criminal Jurisdiction ) Date : 05/03/2020 PRESENT The Hon`ble Dr.Justice G.JAYACHANDRAN CRL OP(MD). No.4150 of 2020

1. G.Vasantha,

2. C.Varadharaj,,

3. P.Srinivasan,,

4. S.Ramasamy,, ... Petitioners/Accused No.Not known Vs State represented by its The Inspector of Police, Economic Offences Wing(Eow), Karur District Crime No.1/2020.

... Respondent/Complainant For Petitioner : M/s.V.Karthikeyan, Advocate.

For Respondent : Mr.S.Chandrasekar, Additional Public Prosecutor PETITION FOR ANTICIPATORY BAIL Under Sec.438 of Cr.P.C PRAYER :- for Anticipatory bail in Crime No.1 of 2020 on the file of the respondent police ORDER : The Court made the following order :- Heard the learned counsel appearing for the petitioners and the learned Government Advocate(Crl. Side) appearing for the respondent.

2. The petitioners apprehending arrest at the hands of the respondent police for the offences punishable under sections 406, 420, 120b IPC r/w Section 5 of TNPID Act 1997, in Crime No.01 of 2020 on the file of the respondent police, seeks anticipatory bail. 3.Based on the complaint received from one Pungothai, a case has been registered agaisnt seven persons and other unknown persons for the alleged offence under sections 406, 420, 120b IPC r/w Section 5 of TNPID Act 1997.

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CRL OP(MD). No.4150 of 2020 4.Some of the substance of the complaint is that one Sivamani, who is the second accused, received a sum of Rs.12,00,000/- from the defacto complainant and invested in the three finance company running by him namely Srinithi Capitals, Srinavanithi Finance, Sri Navanithi Credit. But the money has not been repaid, even after maturity of the fixed deposit period.

5.Pursuant to this complaint, the respondent police has commenced the investigation. Out of six named accused, 4 accused have been arrested so far and as on date, the respondent police received 21 complaints from various depositors alleging cheating to the tune of Rs.One Crore and Nine Lakhs.

6.The contention of the learned counsel for the petitioners is that the petitioners are only partners of Sri Navanithi Credit and in the complaint, the allegations are levelled only against the first accused.

7.Though the FIR has not shown anything against thses petitioners, now from the statement of the Additional Public Prosecutor, this Court finds that gravity of the crime is more and complaints from various investors have been received. Unless and until the accused persons are secured, the money cannot be recovered. Hence, this criminal original petition is dismissed. sd/- 05/03/2020 / TRUE COPY / / /2020 Sub-Assistant Registrar (C.S.) Madurai Bench of Madras High Court, Madurai - 625 023.

TO 1 THE INSPECTOR OF POLICE, ECONOMIC OFFENCES WING(EOW), KARUR DISTRICT.

2 THE ADDITIONAL PUBLIC PROSECUTOR, MADURAI BENCH OF MADRAS HIGH COURT, MADURAI.

+1 CC to M/s.V.KARTHIKEYAN, Advocate ( SR-4871[I] dated 05/03/2020 )

ORDER

IN CRL OP(MD) No.4150 of 2020 Date :05/03/2020 gns AE/VR/SAR-II (12.03.2020) 2P 4C https://hcservices.ecourts.gov.in/hcservices/ 2/2