IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MRS. JUSTICE K.HEMA TUESDAY, THE 16TH DECEMBER 2008 / 25TH AGRAHAYANA 1930 Bail Appl..No. 7536 of 2008() ----------------------------- CRIME NO.347/2008 OF PATTANAKKAD POLICE STATION PETITIONERS : ACCUSED ----------------------------------- 1. T.P.S.MENON @ SWATHANDRAN MENON, AGED 65 YEARS, S/O. KRISHNAN NAIR, MANAGING DIRECTOR, USHMATECH TEXTILE ENGINEERS PVT LTD., P.O.PATTANAKKAD, SHERTALLAI, ALAPPUZHA DIST. 2. MRS. USHA MENON, AGED 59 YEARS, W/O. T.P. S MENON @ SWATHANDRAN MENIN, DIRECTOR, USHAMATECH TEXTILES ENGINEERS PVT LTD., P.O.PATTANAKKAD, SHERTALLAI, ALAPPUZHA DIST. 3. DR.MRS. UMA MENON, AGED 57 YEARS, D/O. K. J.MENON, DIRECTOR USHAMATECH TEXTILES ENGINEERS PVT LTD., P.O.PATTANAKKAD, SHERTALLAI, ALAPPUZHA DIST. BY ADV. SRI.NIREESH MATHEW RESPONDENT(S): COMPLAINANT -------------------------------------------------- 1. STATE OF KERALA, REP.BY SUB INSPECTOR OF POLICE, PATTANAKKAD POLICE STATION, ALAPPUZHA DIST. REP. BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM. 2. THE MANAGING DIRECTOR, KERALA FINANCIAL CORPORATION LTD., THIRUVANANTHAPURAM. 3. THE BRANCH MANAGER, KERALA FINANCIAL CORPORATION LTD., ALAPPUZHA PUBLIC PROSECUTOR SRI.M.S.BREEZ THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 16/12/2008, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: K.HEMA, J. --------------------------------------------- B.A.No.7536 of 2008 --------------------------------------------- Dated this the 16th December, 2008 O R D E R This petition is for anticipatory bail. 2. The alleged offences are under Sections 420 and 34 IPC. According to prosecution, petitioners obtained a loan of Rs.97.13 lakhs from K.F.C. in the year 2001 for starting small scale industrial unit. Some defaults were there in payment of instalments and thereafter, petitioners did not pay the amount, but, sold the machinery which were mortgaged in favour of K.F.C. without the knowledge of KFC and thereby, cheated the defacto complainant. 3. Learned counsel for petitioners submitted that no cheating is involved in this case. Rs.93.13 lakhs is the total amount taken as loan and there was some dispute with respect to payment of instalments. Ultimately, under the “One Time Settlement scheme”, the matter was settled and petitioners paid Rs.40 lakhs towards the amount due and thereafter, Rs.60 lakhs was also paid. Petitioners were forced to sell the machinery to raise an amount and Rs.4.73 lakhs was raised accordingly and BA No.7536 /2008 2 that was also paid into K.F.C. In Annexure E judgment of this Court dated 19.11.2008 in W.P.(C) No.5271/2007, K.F.C. was directed to give credit to the amounts paid by selling the machinery also. Petitioners have no intention to cheat and they are prepared to pay the amount, it is submitted. 4. Learned public prosecutor conceded that the amounts as claimed by petitioners are paid in favour of K.F.C. and hence, there is no objection in granting anticipatory bail. On hearing both sides, I find that anticipatory bail can be granted to the petitioners on conditions. Hence, the following order is passed: Petitioners shall surrender before the Magistrate Court concerned within seven days from today and they shall be released on bail on their executing bond for Rs.25,000/- each with two solvent sureties each for like sum to the satisfaction of the learned Magistrate on the following conditions: (i) Petitioners shall co-operate with investigation and make themselves available for interrogation by the police. BA No.7536 /2008 3 (ii) Petitioners shall report before the Investigating Officer as and when directed. (iii) Petitioners shall not tamper with evidence or commit any offence while on bail. The petition is allowed. K.HEMA, JUDGE csl