RAMESH @ GAUTAM RAMESH v. STATE OF KERALA

# **`IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT`** ``` THE HONOURABLE MR.JUSTICE C.S.DIAS ``` ``` FRIDAY, THE 1[ST] DAY OF MARCH 2024 / 11TH PHALGUNA, 1945 ``` ## **`BAIL APPL. NO. 1550 OF 2024`** ``` CRIME NO.1755/2023 OF PALAKKAD TOWN SOUTH POLICE STATION, ``` ## **`PALAKKAD`** ``` AGAINST THE ORDER/JUDGMENT DATED 09.02.2024 IN CRMC NO.739 OF 2023 OF III ADDITIONAL DISTRICT COURT, PALAKKAD / II ADDITIONAL MACT, PALAKKAD ``` ## **`PETITIONER/2ND ACCUSED:`** ``` RAMESH @ GAUTAM RAMESH AGED 32 YEARS S/O.GOVINDHASWAMI, 3/164, PONNAKANNI, EDAYARPALAYAM (PO), SULUR, PAPAMPATTI, COIMBATORE, TAMILNADU,, PIN - 641025 ``` ``` BY ADVS. BINOY VASUDEVAN SREEJITH SREENATH RINCY KHADER ``` ## **`RESPONDENTS/STATE:`** - **`1 STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR,HIGH COURT OF KERALA, PIN - 682031`** - **`2 THE STATION HOUSE OFFICER TOWN SOUTH POLICE STATION, PALAKKAD, PIN - 678001`** ``` BY ADV SRI C S HRITHWIK – SENIOR PUBLIC PROSECUTOR ``` ``` THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON ``` ``` 01.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ``` ``` 2 ``` ``` BAIL APPL. NO.1550 OF 2024 ``` ## **C.S.DIAS, J.** **-------------------------------------------------------B.A. No. 1550 OF 2024 ------------------------------------------------------Dated this the 1[st] day of March, 2024** ## **O R D E R** The application is filed under Section 439 of the Code of Criminal Procedure, 1973 by the second accused in Crime No.1755/2023 of the Town South Police Station, Palakkad registered against the accused (two in number) for allegedly committing the offences punishable under Section 420 read with Section 34 of the Indian Penal Code, Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019 and Section 5 of the Kerala Protection of Interests of Depositors in Financial Establishments Act, 2013. The petitioner’s arrest was recorded on 20.01.2024. In fact, the petitioner was arrested in a series of crimes, as early as in June 2023. ``` 3 ``` ## **`BAIL APPL. NO.1550 OF 2024`** 2. The crux of the prosecution case is that: the second accused is the Managing Director of the first accused company named M/s. Universal Trading Solutions. The accused had published advertisements that they would double the investment within three years. They also assured that, they give 12% interest on the deposits. Believing the words of the accused, the defacto complainant had deposited an amount of Rs.4 lakh on 11.03.2019 and again an amount of Rs.10 lakh on 30.04.2019. However, the accused fail to give any interest or return the principal and profit. Thus, the accused have committed the above offences. 3. Heard; Sri. Binoy Vasudevan the learned counsel appearing for the petitioner and Sri. C. S. Hrithwik, the learned Public Prosecutor. 4. The learned counsel appearing for the petitioner submitted that, petitioner is totally innocent of the ``` 4 ``` ## **`BAIL APPL. NO.1550 OF 2024`** accusations levelled against him. He has been falsely implicated in the crime on the basis of a private complaint that was filed by the defacto complainant. There were series of cases that were lodged against the accused and ultimately the matter reached the Hon’ble Supreme Court. By Annexure 2 order, the Hon’ble Supreme Court has appointed a former judge of the Madras High Court to sell the properties of the first accused company and liquidate their liabilities. The liquidation process is in progress. Thereafter, other investors filed complaints against the petitioners in the state of Kerala. By Annexure 3 order, the petitioner was released on bail by this Court. Thereafter, the present defacto complanant had filed the present complaint and petitioner’s arrest was recorded on 20.01.2024. The investigation in the case is practically complete and recovery has been effected. Therefore, the ``` 5 ``` ## **`BAIL APPL. NO.1550 OF 2024`** petitioner’s further detention is unnecessary. Hence, the petitioner may be released on bail. 5. The learned Public Prosecutor opposed the application. He submitted that the petitioner has committed a series of crimes. There are 15 other crimes registered in Palakkad District against the petitioner for committing the similar offences and there are numerous other crimes registered in different parts of the country. The petitioner is a native of Tamil Nadu and there is every likelihood of him fleeing from justice. Hence, the application may be dismissed. 6. On a consideration of the facts, the materials placed on record and the rival submissions made across the Bar, it is evident that the Hon’ble Supreme Court by Annexure 2 order, appointed a former judge of the Madras High Court to sell the assets of the first accused company and liquidate its liabilities. It is also seen that ``` 6 ``` ## **`BAIL APPL. NO.1550 OF 2024`** the petitioner was arrested in similar crimes and was released on bail by Annexure 3 order. Indisputably, the petitioner was arrested as early as in June 2023. Subsequently, the present complaint was filed and the petitioner’s formal arrest was recorded on 20.01.2024. In any case, the petitioner has been in judicial custody in the present crime for 45 days. Taking into account that the investigation in the case is practically complete and the recovery has been effected, I am of the definite view that the petitioner’s further detention is unnecessary. Hence, I am inclined to allow the bail application. In the result, the application is allowed, by directing the petitioner to be released on bail on him executing a bond for Rs.50,000/- (Rupees Fifty Thousand only) with two solvent sureties each for the like sum, to the satisfaction of the court having jurisdiction, which shall ``` 7 ``` ## **`BAIL APPL. NO.1550 OF 2024`** be subject to the following conditions: - i. The petitioner shall appear before the Investigating Officer on every Saturday between 9 a.m. and 11 a.m for a period of one month or till the final report is laid, whichever is earlier. He shall also appear before the Investigating Officer as and when required; - ii. The petitioner shall not directly or indirectly make any inducement, threat or procure to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the court or to any Police Officer or tamper with the evidence in any manner, whatsoever; iii. The petitioner shall not commit any offence while he is on bail; - iv. The petitioner shall surrender his passport, if ``` 8 ``` ## **`BAIL APPL. NO.1550 OF 2024`** any, before the court below at the time of execution of the bond. If he has no passport, he shall file an affidavit to the effect before the court below on the date of execution of the bond; - v. The petitioner shall furnish his present address and permanent address, and his mobile phone number to the court below and the Investigating Officer; - vi. In case of violation of any of the conditions mentioned above, the jurisdictional court shall be empowered to consider the application for cancellation of bail, if any filed, and pass orders on the same, in accordance with law. vii. Applications for deletion/modification of the bail conditions shall be moved and entertained by the court below. viii. Needless to mention, it would be well within the powers of the Investigating Officer to ``` 9 ``` ## **`BAIL APPL. NO.1550 OF 2024`** investigate the matter and, if necessary, to effect recoveries on the information, if any, given by the petitioner even while the petitioner is on bail as laid down by the Hon'ble Supreme Court in **Sushila Aggarwal v. State (NCT of Delhi) and another** [2020 (1) KHC 663]. **Sd/C.S. DIAS JUDGE** BR ``` 10 ``` ## **`BAIL APPL. NO.1550 OF 2024`** ## **`APPENDIX OF BAIL APPL. 1550/2024`** ``` PETITIONER’S ANNEXURES Annexure 1TRUE COPY OF THE FIR IN CRIME NO.1755 OF 2023 REGISTERED BY THE 2ND RESPONDENT Annexure 2TRUE COPY OF THE ORDER DATED 09-05-2023 IN S.L.P.(CRIMINAL) NO.9588/2022 OF THE HON'BLE SUPREME COURT OF INDIA Annexure 3TRUE COPY OF THE COMMON ORDER DATED 28.11.2023 IN B.A.NOS.9940 OF 2023 AND 9941 OF 2023 Annexure 4CERTIFIED COPY OF THE ORDER DATED 09.02.2024 IN CRL.M.C.NO.739 OF 2023 OF THE ADDITIONAL DISTRICT AND SESSIONS JUDGE-III, PALAKKAD ``` ## **`RESPONDENT’S ANNEXURES: NIL`**