Dismissed

G. Unnikrishnan Nair, v. State of Kerala

Kerala HC15 Feb 2019Bail Appl./40/2019

Case brief

AI extract

What is this about?

Persons in control of a Kerala housing finance company sought bail in several cheating cases alleging failure to repay deposits. The court found the company in financial crunch, with SEBI and National Housing Bank restrictions and indications that funds were diverted, held the manner of utilisation of funds required detailed investigation, and declined bail.

What the court decided

AI extract

G. Unnikrishnan Nair, Vs State of Kerala — Cheating and Forgery | Kerala HC (2019)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶4

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶5

Bail Appl..No. 7441 of 2018

¶6

CRIME NO. 1758/2018 OF Ernakulam Central Police Station , Ernakulam

¶7

PETITIONERS/ACCUSED 1 & 2:

¶8

1 G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LTD, PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM 695 001 NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANAMTHITTA DISTRICT, PIN- 691 559.

¶9

2 KRISHNAN NAIR N, AGED 60 YEARS S/O.LATE NARAYANA PILLA, VADAKKEKARA HOUSE, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM-695001, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN695013.

¶10

BY ADVS. DR.SEBASTIAN CHAMPAPPILLY DR.ABRAHAM P.MEACHINKARA SRI.GEORGE CLEETUS SRI.M.V.LALU MATHEWS SRI.P.A.SAINUDEEN

¶11

RESPONDENTS:

¶12

1 STATE OF KERALA, REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA.

¶13

2 THE SUB INSPECTOR OF POLICE, ERNAKULAM CENTRAL POLICE STATION, ERNAKULAM, PIN-682018.

¶14

3 SHAHUL HARSHAN, S/O.BALAN, S.S. BHAVAN, MUPPATHADOM.P.O., ALUVA, ERNAKULAM DISTRICT, PIN-683110. BY ADV. SRI.SUMAN CHAKRAVARTHY, SENIOR GOVT.PLEADER

¶15

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶16

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..40/2019, Bail Appl..41/2019, Bail Appl..42/2019, Bail Appl..43/2019, Bail Appl..44/2019, Bail Appl..7152/2018, Bail Appl..7434/2018, Bail Appl..7435/2018, Bail Appl..7645/2018, Bail Appl..7788/2018, Bail Appl..8316/2018, Bail Appl..8319/2018, Bail Appl..8320/2018, Bail Appl..8325/2018, Bail Appl..8843/2018, Bail Appl..8852/2018, Bail Appl..8866/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶17

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 2

¶18

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶19

PRESENT

¶20

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶21

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶22

Bail Appl..No. 40 of 2019

¶23

CRIME NO. 2305/2018 OF Ernakulam Central Police Station , Ernakulam

¶24

PETITIONERS/1st ACCUSED:

¶25

G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT-691.

¶26

BY ADVS. SRI.RASHEED C.NOORANAD SMT.M.N.ANITHA SRI.R.AJAYGHOSH

¶27

RESPONDENT/COMPLAINANT/STATE:

¶28

STATE OF KERALA,, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031.

¶29

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶30

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶31

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 3

¶32

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶33

PRESENT

¶34

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶35

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶36

Bail Appl..No. 41 of 2019

¶37

CRIME NO. 2683/2018 OF Ernakulam Central Police Station , Ernakulam

¶38

PETITIONERS/1st ACCUSED:

¶39

G.UNNIKRISHNAN NAIR AGED 54 YEARS S/O GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT.

¶40

BY ADVS. SRI.RASHEED C.NOORANAD SMT.ANITHA M.N. (EKM) SRI.R.AJAYGHOSH

¶41

RESPONDENT/COMPLAINANT/STATE:

¶42

STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM.

¶43

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶44

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶45

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 4

¶46

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶47

PRESENT

¶48

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶49

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶50

Bail Appl..No. 42 of 2019

¶51

CRIME NO. 2436/2018 OF Ernakulam Central Police Station , Ernakulam

¶52

PETITIONER/1st ACCUSED:

¶53

G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT-691.

¶54

BY ADVS. SRI.RASHEED C.NOORANAD SMT.M.N.ANITHA SRI.R.AJAYGHOSH

¶55

RESPONDENT/COMPLAINANT/STATE:

¶56

STATE OF KERALA, REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031.

¶57

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶58

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶59

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 5

¶60

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶61

PRESENT

¶62

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶63

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶64

Bail Appl..No. 43 of 2019

¶65

CRIME NO. 2687/2018 OF Ernakulam Central Police Station , Ernakulam

¶66

PETITIONERS/1st ACCUSED:

¶67

G. UNNIKRISHNAN NAIR AGED 54 YEARS S/O GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT.

¶68

BY ADVS. SRI.RASHEED C.NOORANAD SMT.M.N.ANITHA SRI.R.AJAYGHOSH

¶69

RESPONDENT/COMPLAINANT/STATE:

¶70

STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM.

¶71

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶72

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶73

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 6

¶74

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶75

PRESENT

¶76

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶77

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶78

Bail Appl..No. 44 of 2019

¶79

CRIME NO. 2725/2018 OF Ernakulam Central Police Station , Ernakulam

¶80

PETITIONERS/1st ACCUSED:

¶81

G.UNNIKRISHNAN NAIR, AGED 54 YEARS S/O.GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT.

¶82

BY ADVS. SRI.RASHEED C.NOORANAD SMT.ANITHA M.N. (EKM) SRI.R.AJAYGHOSH

¶83

RESPONDENT/COMPLAINANT/STATE:

¶84

STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM.

¶85

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶86

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶87

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 7

¶88

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶89

PRESENT

¶90

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶91

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶92

Bail Appl..No. 7152 of 2018

¶93

PETITIONERS:

¶94

1 G. UNNIKRISHNAN NAIR S/O. GOVINDA PILLAI, AGED 54 YEARS, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LTD, PAN AFRICAN PLAZA, 2ND FLOOR, M.G ROAD, THIRUVANANTHAPURAM 695001, NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANAMTHITTA DISTRICT, PIN 691559. 2 KRISHNAN NAIR.M. AGED 60 YEARS S/O.LATE NARAYANA PILLA, VADAKKEKARA HOUSE, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM - 695 001, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN - 695 013. BY ADVS. DR.SEBASTIAN CHAMPAPPILLY SRI.M.V.LALU MATHEWS P.A.SAINUDEEN

¶95

RESPONDENTS:

¶96

1 STATE OF KERALA REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA-682031. 2 THE SUB INSPECTOR OF POLICE ERNAKULAM CENTRAL POLICE STATION, ERNAKULAM, PIN - 682 018.

¶97

OTHER PRESENT:

¶98

PP S SAJJU

¶99

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶100

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 8

¶101

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶102

PRESENT

¶103

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶104

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶105

Bail Appl..No. 7434 of 2018

¶106

CRIME NO. 714/2018 OF Ernakulam Central Police Station , Ernakulam

¶107

PETITIONERS/ACCUSED 1 AND 2:

¶108

1 G. UNNIKRISHNAN NAIR AGED 54 YEARS S/O.GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, MG ROAD, THIRUVANANTHAPURAM, 695001, NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOOPUZHA, CHOORAKODU POST, ADOOR, PATHANAMTHITTA DISTRICT, PIN 691559.

¶109

2 KRISHNAN NAIR.N. AGED 60 YEARS S/O.LATE NARAYANA PILLA, VADAKKEKARA HOUSE, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM - 695 001, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN - 695 013.

¶110

BY ADVS. DR.SEBASTIAN CHAMPAPPILLY DR.ABRAHAM P.MEACHINKARA SRI.GEORGE CLEETUS SRI.M.V.LALU MATHEWS SRI.P.A.SAINUDEEN

¶111

RESPONDENTS:

¶112

1 STATE OF KERALA REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA.

¶113

2 THE SUB INSPECTOR OF POLICE ERNAKULAM CENTRAL POLICE STATION, ERNAKULAM, PIN - 682 018.

¶114

3 C.G.BABU AGED 64 YEARS, S/O.GOPALAKRISHNAN NAIR, HARITHA HOUSE, NEAR ODAMPILLY TEMPLE, VEERAMANGALAM KARA, PANAVALLY P.O., PANAVALLY PANCHAYATH, PANAVALLY VILLAGE, CHERTHALA TALUK, ALAPPUZHA DISTRICT, PIN - 688 566.

¶115

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 9

¶116

BY ADVS. SRI.C.S.AJITH PRAKASH KUM.NEETHU SOMAN SRI.FRANKLIN ARACKAL SRI.PAUL C THOMAS SRI.T.K.DEVARAJAN

¶117

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶118

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶119

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 10

¶120

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶121

PRESENT

¶122

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶123

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶124

Bail Appl..No. 7435 of 2018

¶125

CRIME NO. 1355/2018 OF Ernakulam Central Police Station , Ernakulam

¶126

PETITIONERS/ACCUSED 1 AND 2:

¶127

1 G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANACE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M G ROAD, THIRUVANANTHAPURAM-695001. NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANMATHITTA DISTRICT, PIN-691559.

¶128

2 KRISHNAN NAIR N., AGED 60 YEARS S/O.LATE NARAYANA PILLA, VADAKKEKARA HOUSE, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM695001, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN-695013.

¶129

BY ADVS. DR.SEBASTIAN CHAMPAPPILLY DR.ABRAHAM P.MEACHINKARA SRI.GEORGE CLEETUS SRI.M.V.LALU MATHEWS SRI.P.A.SAINUDEEN

¶130

RESPONDENTS:

¶131

1 STATE OF KERALA, REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA-682031.

¶132

2 THE SUB INSPECTOR OF POLICE, ERNAKULAM CENTRAL POLICE STATION, ERNAKULAM, PIN-682018.

¶133

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 11

¶134

3 SASIDHARAN ASARI, AGED 64 YEARS, S/O.GOVINDHAN, ROHINI HOUSE, KARIMUGHAL.P.O., PUTHENCRUZ VILLAGE, KANAYANOOR TALUK, ERNAKULAM DISTRICT, PIN-682303.

¶135

BY ADVS. SRI.K.P.SURESH KUMAR SRI.C.DEVANAND

¶136

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶137

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶138

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶139

¶140

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶141

PRESENT

¶142

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶143

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶144

Bail Appl..No. 7645 of 2018

¶145

AGAINST THE ORDER/JUDGMENT IN CRMC 2027/2018 of DISTRICT COURT & SESSIONS COURT, ERNAKULAM

¶146

CRIME NO. 2305/2018 OF Ernakulam Central Police Station , Ernakulam

¶147

PETITIONERS/ACCUSED:

¶148

1 K. GOPALAKRISHNAN AGED 56 YEARS S/O. KUTTAPPAN NAIR, KOYATTU (H), MANGARAM, PANDALAM, ADOOR, NOW AT JAIKISHAN BUILDING, KARIKKAMURI CROSS ROAD, ERNAKULAM, PIN - 682 011.

¶149

2 G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANACE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M G ROAD, THIRUVANANTHAPURAM-695001. NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANMATHITTA DISTRICT, PIN-691559.

¶150

3 KRISHNAN NAIR N., AGED 60 YEARS S/O.LATE NARAYANA PILLA, VADAKKEKARA HOUSE, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM695001, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN-695013.

¶151

BY ADVS. DR.SEBASTIAN CHAMPAPPILLY DR.ABRAHAM P.MEACHINKARA SRI.GEORGE CLEETUS SRI.M.V.LALU MATHEWS

¶152

RESPONDENTS:

¶153

1 STATE OF KERALA REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA.

¶154

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶155

¶156

2 THE SUB INSPECTOR OF POLICE ERNAKULAM CENTRAL POLICE STATION ERNAKULAM, - 682018 3 VALSALA DHEVI .R, SOUPARNIKA HOUSE, K.P.VALLON ROAD, ELAMKULAM, NEAR MATTALIL TEMPLE ERNAKULAM, KOCHI-682 020

¶157

BY ADVS. SRI.C.S.AJITH PRAKASH DIRECTOR GENERAL OF PROSECUTION KUM.NEETHU SOMAN SRI.A.TJOSE SRI.FRANKLIN ARACKAL SRI.K.M.SALIM SRI.PAUL C THOMAS SRI.SUMAN CHAKRAVARTHY, SENIOR GOVT.PLEADER SRI.T.K.DEVARAJAN

¶158

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶159

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶160

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 14

¶161

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶162

PRESENT

¶163

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶164

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶165

Bail Appl..No. 7788 of 2018

¶166

CRIME NO. 1754/2018 OF Hill Palace Police Station , Ernakulam

¶167

PETITIONER/ACCUSED NO.2:

¶168

1 KRISHNAN NAIR.N AGED 60 YEARS S/O. LATE NARAYANA PILLA, DIRECTOR CUM GENERAL MANAGER, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G ROAD, THIRUVANANTHAPURAM, 695001, RESIDING AT VADAKKEKARA HOUSE, VAZHOTTUKONAM, VATTIYURKAVU, THIRUVANANTHAPURAM, PIN 695013

¶169

2 G. UNNIKRISHNAN NAIR, AGED 54 YEARS S/O. GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LTD., PAN AFRICAN PLAZA, 2ND FLOOR, M.G. ROAD, THIRUVANANTHAPURAM 695001, NOW RESIDING AT MULLASSERIL HOUSE CHATHANNOPUZHA CHOORKODU POST, ADOOR, PATHANAMTHITTA DISTRICT 691559 BY ADVS. DR.SEBASTIAN CHAMPAPPILLY DR.ABRAHAM P.MEACHINKARA SRI.GEORGE CLEETUS SRI.M.V.LALU MATHEWS SRI.P.A.SAINUDEEN

¶170

RESPONDENTS:

¶171

1 STATE OF KERALA REPRESENTED BY THE STATE PUBLIC PROSECUTOR, HIGH COURT OF KERALA 2 THE SUB INSPECTOR OF POLICE HILL PALACE POLICE STATION, TRIPUNITHURA 682301

¶172

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶173

¶174

3 REGHUNATHAN NAIR, AGED 65 YEARS S/O. BALAKRISHNAN NAIR, CHAITHRAM HOUSE, IRUMPANAM P.O., HILL PALACE, TRIPUNITHURA, ERNAKULAM 682309

¶175

BY ADVS. SRI.T.K.DEVARAJAN KUM.NEETHU SOMAN SRI.A.TJOSE SRI.C.S.AJITH PRAKASH SRI.FRANKLIN ARACKAL SRI.K.M.SALIM SRI.PAUL C THOMAS

¶176

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶177

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶178

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 16

¶179

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶180

PRESENT

¶181

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶182

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶183

Bail Appl..No. 8316 of 2018

¶184

PETITIONER:

¶185

G. UNNIKRISHNAN NAIR AGED 54 YEARS S/O.GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LIMITED, PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM-695001, NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANAMTHITTA DISTRICT-691559.

¶186

BY ADVS.

¶187

SRI.G.PRIYADARSAN THAMPI SRI.SAJESH K. SAM

¶188

RESPONDENT/COMPLAINANT:

¶189

STATE OF KERALA REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031. (REPRESENTING STATION HOUSE OFFICER, THIRUVALLA POLICE STATION, PATHANAMTHITTA DISTRICT)

¶190

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶191

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶192

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 17

¶193

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶194

PRESENT

¶195

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶196

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶197

Bail Appl..No. 8319 of 2018

¶198

PETITIONER:

¶199

G.UNNIKRISHNAN NAIR, AGED 54 YEARS S/O. GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LIMITED, PAN AFRICAN PLAZA, 2ND FLOOR, M.G. ROAD, THIRUVANANTHAPURAM-695001. NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, ADOOR, PATHANAMTHITTA DISTRICT-691559.

¶200

BY ADVS. SRI.G.PRIYADARSAN THAMPI SRI.SAJESH K. SAM

¶201

RESPONDENT/COMPLAINANAT:

¶202

STATE OF KERALA, REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM -682031. (REPRESENTING STATION HOUSE OFFICER, ADOOR POLICE STATION, PATHANAMTHITTA DISTRICT.

¶203

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶204

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶205

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 18

¶206

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶207

PRESENT

¶208

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶209

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶210

Bail Appl..No. 8320 of 2018

¶211

PETITIONER:

¶212

G.UNNIKRISHNAN NAIR AGED 54 YEARS S/O.GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LIMITED, PAN AFRICAN PLAZA, 2ND FLOOR, M.G.ROAD, THIRUVANANTHAPURAM-695001, NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, PATHANAMTHITTA DISTRICT-691559.

¶213

BY ADVS. SRI.G.PRIYADARSAN THAMPI SRI.SAJESH K. SAM

¶214

RESPONDENT/COMPLAINANT:

¶215

STATE OF KERALA REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031. (REPRESENTING STATION HOUSE OFFICER, ARANMULA POLICE STATION, PATHANAMTHITTA DISTRICT)

¶216

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶217

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶218

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 19

¶219

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶220

PRESENT

¶221

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶222

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶223

Bail Appl..No. 8325 of 2018

¶224

PETITIONER:

¶225

G. UNNIKRISHNAN NAIR AGED 54 YEARS S/O. GOVINDA PILLAI, CHAIRMAN AND MANAGING DIRECTOR, KERALA HOUSING FINANCE LIMITED, PAN AFRICAN PLAZA, 2ND FLOOR, M.G. ROAD, THIRUVANANTHAPURAM-685001, NOW RESIDING AT MULLASSERIL HOUSE, CHATHANNOPUZHA, CHOORAKODU POST, PATHANAMTHITTA, PATHANAMTHITTA DISTRICT-691559.

¶226

BY ADV. SRI.G.PRIYADARSAN THAMPI

¶227

RESPONDENT/COMPLAINANT:

¶228

STATE OF KERALA, REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031, (REPRESENTING STATION HOUSE OFFICER, PATHANAMHTITTA POLICE STATION, PATHANAMTHITTA DISTRICT).

¶229

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶230

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶231

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶232

¶233

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶234

PRESENT

¶235

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶236

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶237

Bail Appl..No. 8843 of 2018

¶238

CRIME NO. 2680/2018 OF Ernakulam Central Police Station , Ernakulam

¶239

PETITIONERS/1st ACCUSED:

¶240

G.UNNIKRISHNAN NAIR AGED 54 YEARS S/O. GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU.P.O., PATHANAMTHITTA DISTRICT.691.

¶241

BY ADVS. SRI.RASHEED C.NOORANAD SMT.M.N.ANITHA

¶242

RESPONDENT/COMPLAINANT/STATE:

¶243

STATE OF KERALA REP.BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM-682031.

¶244

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶245

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8866/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶246

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶247

¶248

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶249

PRESENT

¶250

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶251

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶252

Bail Appl..No. 8852 of 2018

¶253

CRIME NO. 2681/2018 OF Ernakulam Central Police Station , Ernakulam

¶254

PETITIONERS/1st ACCUSED:

¶255

G.UNNIKRISHNAN NAIR, AGED 54 YEARS S/O.GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT.

¶256

BY ADVS. SRI.RASHEED C.NOORANAD SMT.M.N.ANITHA

¶257

RESPONDENT/COMPLAINANT/STATE:

¶258

STATE OF KERALA, REP. BY PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM- 682031.

¶259

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶260

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8866/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶261

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018

¶262

¶263

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶264

PRESENT

¶265

THE HONOURABLE MR. JUSTICE SUNIL THOMAS

¶266

FRIDAY ,THE 15TH DAY OF FEBRUARY 2019 / 26TH MAGHA, 1940

¶267

Bail Appl..No. 8866 of 2018

¶268

CRIME NO. 2556/2018 OF Thiruvalla Police Station , Pathanamthitta

¶269

PETITIONER/1st ACCUSED:

¶270

G.UNNIKRISHNAN NAIR, AGED 54 YEARS S/O.GOVINDA PILLAI, MULLASSERIL HOUSE, CHATHUNNAPUZHA, CHOORAKOODU P.O., PATHANAMTHITTA DISTRICT.

¶271

BY ADVS. SRI.RASHEED C.NOORANAD SMT.ANITHA M.N. (EKM)

¶272

RESPONDENT/COMPLAINANT/STATE:

¶273

STATE OF KERALA REP.BY PUBLIC PROSECUTOR HIGH COURT OF KERALA ERNAKULAM 682 031

¶274

BY PUBLIC PROSECUTOR : ADV.S.SAJJU

¶275

THIS BAIL APPLICATION HAVING BEEN FINALLY HEARD ON 06.02.2019, ALONG WITH Bail Appl..7152/2018, Bail Appl..40/2019, Bail Appl..44/2019, Bail Appl..43/2019, Bail Appl..42/2019, Bail Appl..41/2019, Bail Appl..8843/2018, Bail Appl..8852/2018, Bail Appl..8325/2018, Bail Appl..8320/2018, Bail Appl..8319/2018, Bail Appl..8316/2018, Bail Appl..7788/2018, Bail Appl..7645/2018, Bail Appl..7441/2018, Bail Appl..7435/2018, Bail Appl..7434/2018, THE COURT ON 15.02.2019 PASSED THE FOLLOWING:

¶276

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 23

¶277

COMMON ORDER

¶278

These bail applications arise from various criminal

¶279

proceedings pending before various police stations of the State.

¶280

Since common allegations and factual issues arise in these bail applications, all of them are dealt with commonly.

¶281

Petitioners claim to be the persons in control and management of the Kerala Housing Finance Public Limited company incorporated in the year 1992. K.Gopalakrishnan, one of the petitioners, is its manager. Another petitioner G.Unnikrishnan Nair is the CMD and Mr.Krishnan Nair is the Director cum General Manager. The bail applications are filed by them, individually or in combination with the coaccused. The company is a non-banking finance company which is essentially engaged in financing house construction. It has obtained license under the relevant Statutes. Certificate of registration was also obtained from the National Housing Bank. According to the petitioner, it has got 5,000 share holders with a total paid up capital of Rs.14 Crores. It owns property worth Rs.50 Crores. The company has 28 branches in Kerala. According to the petitioners, housing and personal loan issued by the company is Rs.80 Crores. It is claimed that, the company was functioning normally till recently. However, due to unexpected contingencies consequent to the demonetization of currency notes and floods that shook Kerala, repayment of loans availed by its clients slowed

¶282

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 24

¶283

down and loans became non performing assets. Moratorium was declared by the Government in relation to housing loans. In the meanwhile, the deposits became mature. These contingencies cumulatively led to a financial crunch. In the above circumstances, apprehending that the money deposited by the depositors will not be repaid, several complaints were laid in the various police stations. It was alleged that, petitioners have committed offences punishable under section 420 IPC along with other offences. Apprehending arrest, petitioners have sought for bail.

¶284

Heard the learned counsel for the petitioners, Mr.Sebastian Champapilly, G.Priyadarsan Thampi and Mr. C. Rasheed who have filed separate sets of applications for the above persons, Mr.C.S.Ajith Prakash for one of the complainants who had filed detailed objections. Heard the learned Public Prosecutor also.

¶285

According to the complainant, the total amount to be recovered from the loan transactions is Rs.15 Crores. The company has sufficient assets and is capable of discharging the entire liabilities. However, due to financial pressure and constraints, they need some breathing time to dispose of the properties and to discharge the liabilities in a phased manner. Hence, it was contended that, there was no willful latches on the part of the petitioner in returning the amounts collected and they are ready and willing to pay off the debts in a phased manner.

¶286

According to Mr.Ajith Prakash company collected huge deposits offering 13% interest. Most of the depositors were retired

¶287

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 25

¶288

employees who were lured into depositing the amount on assurance to pay huge interest. It was alleged that, they had also introduced scheme by name Grihachand. It was virtually functioning under the Nidhi scheme of the Government. It was constituted as a subsidiary company as Grihachand Nidhi Limited. According to the third respondent, funds so collected by the company were diverted into the above Nidhi company, which were run as a subsidiary to the housing finance Ltd. It was contended that, Nidhi scheme was constituted in breach of the relevant scheme as envisaged by the Government. Company had its head office at Coimbatore and under the scheme, they can collect money and carry on the business in the place of registration only. However, they collected money from various parts of Kerala. It is also contended that, funds were purported to have been collected by the housing company and receipts of Grihachand Nidhi Ltd were issued. To substantiate it, third respondent produced the copies of deposit. CMD and his wife were the directors of Nidhi company which showed close proximity between two companies.

¶289

It was contended by the third respondent that the contention that, demonetization and floods have resulted in financial crunch cannot be believed since no company with strong financial foundation and which has not diverted its fund for other purposes, is not likely to face any such financial crisis.

¶290

Pursuant to the direction, statement of assets and liabilities of the company was filed. It shows that, there are preferencial shares worth Rs.15.96 Crores, equity shares worth 13.91 Crores and debentures worth

¶291

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 26

¶292

Rs.80 Crores. According to the petitioners calculation, the total assets of the company comes to Rs.109.13 Crores. The total refundable liability is only Rs.95.4 Crores. The loan given was for Rs.45.22 Crores and mortgage loans worth Rs.6.60 Crores were also disbursed. It was contended that the company had fixed assets of Rs.54.58 Crores. Hence, it was claimed that, they had a total share of 122.45 Crores.

¶293

It seems that the calculation shown by the petitioners is not attractive. The assets includes the debentures which have become matured and liable to be repaid with interest, valuation of properties shown is their escalated valuation. Further it appears that now the company is debared from alienating the properties. It is also seen that the company had entered into several other businesses also. They had purchased around 5 acres of land for a villa project, another 5 acres of land was purchased for constructing house of persons belonging to low income groups. According to the petitioners, both these schemes did not function properly. It was contended by the defacto complainant that the purchase of such properties and diversion of funds have resulted in the financial loss. In the meanwhile, alleging that the company has diverted its funds for other purpose, complaints were submitted, SEBI and National Housing Board intervened and had passed orders. Curtailing the transaction by the company.

¶294

It is evident that the company is facing financial crunch. The orders issued by the SEBI and National Housing Board indicates that restrictions have been imposed on the company. There are some

¶295

B.A.7441, 7434, 7435, 7152, 7788, 7645, 8316, 8319, 8320, 8325, 40, 41, 42, 43, 44, 8843, 8852 and 8866 of 2018 27

¶296

indications that the funds of the company were used for other purposes. It also appears that, financial crunch cannot be directly attributed to demonitization and floods. The chanalization of the funds collected by the company is not discernible from the records produced by the complainants. The manner in which funds were utilized, investment, if any, made by the petitioners with the funds generated by the company, diversion of amounts, if any, are matters which require detailed investigation. Hence, I am not inclined to grant bail to the petitioners in any of the above bail applications.

¶297

Bail applications fail and are dismissed.

Sd/-

SUNIL THOMAS

JUDGE

Sbna

G. Unnikrishnan Nair, v. State of Kerala

Case brief

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What the court decided

G. Unnikrishnan Nair, v. State of Kerala

Case brief

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