R.Gunasekaran v. The Inspector Of Police
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT ( Criminal Jurisdiction ) Date : 24/04/2023 PRESENT The Hon`ble Mr.Justice G.K.ILANTHIRAIYAN
1. R.Gunasekaran
2. R.Periyasamy
3. Selvaraj ... Petitioners / Accused No.6, 12 & 18 Vs State rep by The Inspector of Police, Economic Offences Wing-II, Karur District.
(Crime No.1/2023).
... Respondent / Complainant For Petitioner : M/s.Mathiyalagan R, Advocate. For Intervenor : Mr.V.Nagarajan, Advocate For Respondent : Mr.R.M.Anbunithi, Additional Public Prosecutor PETITION FOR BAIL Under Sec.439 of Cr.P.C.
PRAYER :- For Bail in Crime No.1/2023 on the file of the Respondent Police.
ORDER : The Court made the following order :- The petitioners /A6,12 and 18 who were arrested and remanded to judicial custody on 31.03.2023 for the offences under sections 406, 420 and 120(B) of I.P.C. and Section 5 of TNPID Act, 1997, in Crime No.1 of 2023 on the file of the respondent police seek bail.
2. The case of the prosecution is that the petitioners along with other accused was running financial companies and the defacto complainant deposited the amount to the tune of Rs.1,28,00,000/- in the accused financial companies. It was agreed at the time of deposit that the amount deposited would carry 18% interest per annum 1/3
and the interest will be paid by the company monthly or yearly. For some months interest paid and thereafter, interest was not paid and when the same was questioned by the defacto complainant to return the money, there was no response, hence the case
3. Heard both sides and perused the materials available on record including the First Information Report.
4. The learned counsel for the petitioners would submit that the petitioners without their prejudice are ready and willing to deposit the original title deed not less than the amount collected by them.
5. Taking into consideration of the facts and submissions made by the learned counsels and also the period of incarceration this court and also the fact some of the accused were granted anticipatory bail by this Court, this Court is inclined to grant bail to the petitioners, subject to the following conditions: 6.Accordingly, the petitioners are ordered to be released on bail, subject to the following conditions [a] The petitioners shall deposit the original title deed which stands in their name or in their relative's name or in their friend's name worth about Rs.1,00,00,000/- each along with the property valuation certificate from the authorities competent before the concerned Court without prejudice to his defence [b] On such deposit,the petitioners shall execute a bond for a sum of Rs.
[d] the petitioners shall report before the respondent police daily at 10.30 a.m and 5.30 pm.,until further orders. [e]the petitioners shall not tamper with evidence or witness. [f] the petitioners shall not abscond during trial. [g] On breach of any of the aforesaid conditions, the learned Magistrate/Trial Court is entitled to take appropriate action against the petitioners 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 2/3
Court in P.K.Shaji vs. State of Kerala [(2005)AIR SCW 5560]. [h] If the accused thereafter absconds, a fresh FIR can be registered under Section 229A IPC.
sd/- 24/04/2023 / TRUE COPY / 24/04/2023 Sub-Assistant Registrar (C.S.) Madurai Bench of Madras High Court, Madurai - 625 023.
AAV To 1.The Judge, Special Court under TNPID Act Cases, Madurai.
2.The Inspector of Police, Economic Offence Wing-II, Karur District.
3.The Superintendent, Central Prison, Madurai.
4.The Additional Public Prosecutor, Madurai Bench of Madras High Court, Madurai.
+1 CC to M/s.MATHIYALAGAN R, Advocate ( SR-6388[I] dated 24/04/2023 ) +1 CC to M/s.V.NAGARAJAN, Advocate ( SR-6436[I] dated 24/04/2023 )
ORDER
IN CRL OP(MD) No.7593 of 2023 Date :24/04/2023 ED/ VR /SAR- (24/04/2023) 3P 7C 3/3