Allowed

Prasanth Panachikkal v. State of Kerala

Kerala HC22 Sept 2020Bail Appl./4248/2020

Case brief

AI extract

What is this about?

The court granted anticipatory bail to the accused Prasad Panachikkal in a money circulation scheme case. The applicant was directed to surrender within two weeks, cooperate with investigation, and comply with bail conditions while the investigation proceeds.

What did the court decide?

Anticipatory bail granted with direction to surrender within two weeks, cooperate with investigation, and execute a bond with two sureties.

Prasanth Panachikkal Vs State of Kerala — Bail and Remand | Kerala HC (2020)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MR. JUSTICE ASHOK MENON

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TUESDAY, THE 22ND DAY OF SEPTEMBER 2020 / 31ST BHADRA, 1942

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Bail Appl..No.4248 OF 2020

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CRIME NO.822/2020 OF Cherpu Police Station, Thrissur

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PETITIONER/S:

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PRASANTH PANACHIKKAL, AGED 38 YEARS S/O. AMBUJAKASHAN, VI/21, PANACHIKKAL HOUSE, VALAKKAVU, MULAYAM P.O, THRISSUR 680 751, HAVING OFFICE AT 11/319, ARATTUPUZHA TEMPLE ROAD, OORAKAM, THRISSUR 680 711 THRISSUR PIN 680711

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BY ADVS. SRI.THOMAS T.VARGHESE SMT.SHRUTHI SARA JACOB SRI.PHILIP T.VARGHESE SMT.K.R.MONISHA SMT.V.T.LITHA

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RESPONDENT/S:

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1 STATE OF KERALA REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA , ERNAKULAM PIN 682 031 2 THE DEPUTY SUPERINTENDENT OF POLICE, DISTRICT CRIME BRANCH, AYYANTHOLE THRISSUR PIN 680 003 3 THE STATION HOUSE OFFICER, CHERPU POLICE STATION, CHERPU, THRISSUR-680 561 SRI.SANTHOSH PETER SR PP

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THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 22.09.2020, THE COURT ON THE SAME DAY PASSED THE FOLLOWING:

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Bail Appl..No.4248 OF 2020

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ORDER

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Dated this the 22nd day of September 2020

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This is an application filed under Section 438 of Cr.P.C seeking anticipatory bail.

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The applicant is the sole accused in Crime No.822/2020 of Cherpu Police Station, Thrissur, for having allegedly committed offences punishable under Sections 3, 4 and 5 of Prize Chits and Money Circulation (Banning) Act, 1978.

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The prosecution case, in brief, is that the

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applicant is a Director of a company named Prasanth Panachikkal Marketing Private Ltd., and he is also a Director of Prasanth Panachikkal Charitable Foundation. The applicant had induced several persons to deposit amounts with him in connection with a money circulation scheme in violation of the aforesaid provisions of law and thus, committed the offence.

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The applicant would point out that no

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Bail Appl..No.4248 OF 2020

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specific complaint has been received by any of the depositors regarding any malpractice by the applicant or the depositors being cheated or deprived of their money. Hence, the applicant does not have any criminal antecedents. Therefore, he

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may be released on anticipatory bail. He is

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willing to co-operate with the investigation.

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Heard the learned counsel for the applicant

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and the learned Public Prosecutor.

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The learned Public Prosecutor submits that

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it is a money circulation scheme involving huge amounts of money and that the applicant is not entitled to be released on anticipatory bail. However, there is no complaint made by any of the depositors so far, and the allegation that the applicant had violated the aforesaid provisions of law is something which would be revealed by the investigation for which the applicant is willing to co-operate. There is no possibility of his

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Bail Appl..No.4248 OF 2020

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absconding. Hence, the applicant is entitled to anticipatory bail.

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The application is allowed and the

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applicant is directed to surrender before the

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investigating officer within two weeks, and after interrogation and recovery if any, he shall be released on bail on execution of a bond for

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Rs.1,00,000/-(Rupees One Lakh only) with two

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solvent sureties for the like amount each to the satisfaction of the investigating officer and on the following conditions;

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1.He shall not tamper with evidence, influence or intimidate witnesses.

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2.He shall appear before the investigating officer as and when called for.

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3.He shall not get involved in similar offences during the bail period.

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In the event of violating the bail conditions,

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the prosecution shall be at liberty to apply for

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Bail Appl..No.4248 OF 2020

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cancellation of bail before the jurisdictional

court.

Sd/-

ASHOK MENON

JUDGE

SPK

Prasanth Panachikkal v. State of Kerala

Case brief

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Prasanth Panachikkal v. State of Kerala

Case brief

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