Held that the implicated deposit schemes span multiple States, invoking Section 30 of the BUDS Act. Directed the State Home Secretary to refer the investigation to CBI within three weeks.
Directed 1st respondent (Home Secretary) to refer investigation to 6th respondent (CBI) within three weeks.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE P.V.KUNHIKRISHNAN
WEDNESDAY, THE 1ST DAY OF NOVEMBER 2023 / 10TH KARTHIKA, 1945
WP(CRL.) NO. 127 OF 2023
CRIME NO.1161/2022 OF THRIKKAKARA POLICE STATION, ERNAKULAM
PETITIONERS:
1 SAJU P VARGHESE, AGED 58 YEARS, SON OF VARGHESE, PARAKKADAN, OORAKKADU KARA, NEAR TRIVANDRUM INTERNATIONAL SCHOOL, KIZHAKKAMBALAM, ERNAKULAM DISTRICT, PIN-683 561.
2 DR. GEORGE KALLARACKAL, AGED 58 YEARS, SON OF DR. URUMEES, KALLARACKAL, NO.7, PALM MEADOWS, CHEPPANAM, PANANGAD, KUMBALAM, ERNAKULAM DISTRICT, PIN-682 506.
3 AMBADI VIJAYAN M. SHRIKUMAR, AGED 67 YEARS, SON OF A. VIJAYAN MENON, NO.1A, CHELOOR PUSHPAK FLAT, RAVIPURAM ROAD, RAVIPURAM, ERNAKULAM, PIN-682 016.
4 DR. K.C. GEORGE, AGED 74 YEARS, SON OF CHACKO, PONEVAZHI ROAD, THEEN MOORTHY NAGAR, EDAPPALLY NORTH, ERNAKULAM, PIN-682 024.
5 BALAGOPAL, AGED 70 YEARS, SON OF V.G. BHASKARAN UNNI, GOKULAM HOUSE, OPPOSITE B&B HOSPITAL, VIKAS ROAD, VAZHAKKALA, THRIKKAKARA, ERNAKULAM, PIN-682 021.
BY ADVS. R.BINDU (SASTHAMANGALAM) G.RAJAGOPAL (KUMMANAM)
RESPONDENTS:
1 THE SECRETARY TO GOVERNMENT HOME DEPARTMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM, PIN-695001, (COMPETENT AUTHORITY UNDER THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT 2019).
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10 STATE OF KERALA REPRESENTED BY THE CHIEF SECRETARY TO GOVERNMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM, PIN-695 001.
R1-R4,R10 SMT. SREEJA V., SENIOR GOVERNMENT PLEADER
SRI. S. MANU, DSGI
SRI. JAISHANKAR V. NAIR, STANDING COUNSEL
THIS WRIT PETITION (CRIMINAL) HAVING COME UP FOR ADMISSION ON 01.11.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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P.V. KUNHIKRISHNAN, J.
-------------------------------------------------------W.P.(Crl.) No.127 of 2023
-------------------------------------------------------Dated this the 1st day of November, 2023
JUDGMENT
This Writ Petition (Criminal) is filed with the following
prayers:-
i) issue a writ of mandamus or any other appropriate writ, direction or order, handing over further investigation of crimes relating to Exhibits P4 to P8 to the respondents 5 and 6 and may direct them to conduct a proper further investigation into the above crimes within a time frame to be fixed by this Honourable Court.
ii) issue a writ of mandamus or any other appropriate writ, direction or order, directing the 1st respondent to initiate proceedings under the Banning of Unregulated Deposits Scheme Act 2019 for settling the claim of the petitioners as provided under Chapter V of the Act.
iii) issue a writ of mandamus or any other appropriate writ, direction or order, directing the respondents 1, 5 and 6 to file periodical reports before this Hon'ble Court stating the progress in
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investigation and other proceedings till the final report is filed before the competent Court.
iv) pass an order dispensing with the translation of the documents produced along with the Writ Petition in vernacular language.
v) to issue any other writ, direction or order as this Honourable may deem fit and proper in the facts and circumstances of this case.
Act:-
30. Investigation of offences by Central Bureau
of Investigation. − (1) On receipt of information under section 29 or otherwise, if the Competent Authority has reason to believe that the offence
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relates to a deposit scheme or deposit schemes in which−
the Competent Authority shall refer the matter to the Central Government for investigation by the Central Bureau of Investigation.
(2) The reference made by the Competent Authority under sub-section (1) shall be deemed to be with the consent of the State Government under section 6 of the Delhi Special Police Establishment Act, 1946 (25 of 1946).
(3) On the receipt of the reference under sub-section (1), the Central Government may transfer the investigation of the offence to the Central Bureau of Investigation under section 5 of the Delhi Special Police Establishment Act, 1946 (25 of 1946).
on receipt of information under Section 29 or otherwise, if
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the Competent Authority has reason to believe that the offence relates to a deposit scheme or deposit schemes in which the depositors, deposit takers or properties involved are located in more than one State or Union territory in India or outside India and the total value of the amount involved is of such magnitude as to significantly affect the public interest, the Competent Authority shall refer the matter to the Central Government for investigation by the Central Bureau of Investigation.
Therefore, this writ petititon is disposed of directing the 1st respondent to refer the matter to the 6th respondent in the light of Section 30 of the BUDS Act, as expeditiously as possible, at any rate, within three weeks from the date of receipt of a copy of this judgment. The petitioners will
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produce a certified copy of this judgment along with the writ petition before the 1st respondent for compliance.
Sd/-
P.V. KUNHIKRISHNAN JUDGE
bpr
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APPENDIX OF WP(CRL.) 127/2023
PETITIONERS' EXHIBITS
| Exhibit-P1 | TRUE COPY OF THE CERTIFICATE ISSUED BY THE NATIONAL STOCK EXCHANGE OF INDIA LIMITED DATED 09.11.2016 |
|---|---|
| Exhibit-P2 | TRUE COPY OF THE CERTIFICATE OF REGISTRATION AS AUTHORIZED PERSON DATED 08.11.2016 |
| Exhibit-P3 | TRUE COPY OF THE BROCHURE GIVEN BY THE RESPONDENTS 8 AND 9 TO THE PETITIONERS |
| Exhibit-P4 | TRUE COPY OF THE FIRST INFORMATION REPORT IN CRIME NO. 1161/2022 OF THRIKKAKARA POLICE STATION DATED 06.12.2022 |
| Exhibit-P5 | TRUE COPY OF THE FIRST INFORMATION REPORT IN CRIME NO. 1156/2022 OF THRIKKAKARA POLICE STATION DATED 05.12.2022 |
| Exhibit-P6 | TRUE COPY OF THE FIRST INFORMATION REPORT IN CRIME NO. 1159/2022 OF THRIKKAKARA POLICE STATION DATED 06.12.2022 REGISTERED ON THE BASIS OF THE STATEMENT GIVEN BY THE 3RD PETITIONER |
| Exhibit-P7 | TRUE COPY OF THE FIRST INFORMATION REPORT IN CRIME NO. 1172/2022 OF THRIKKAKARA POLICE STATION DATED 09.12.2022 REGISTERED ON THE BASIS OF THE STATEMENT GIVEN BY THE 4TH PETITIONER |
| Exhibit-P8 | TRUE COPY OF THE FIRST INFORMATION REPORT IN CRIME NO. 1170/2022 OF THRIKKAKARA POLICE STATION DATED 09.12.2022 REGISTERED ON THE BASIS OF THE STATEMENT GIVEN BY THE 5TH |
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PETITIONER
| Exhibit-P9 | TRUE COPY OF THE 10408/2022 FILED IN EXHIBIT P4 CR |
BAIL APPLICATION NO. BY THE 8TH RESPONDENT IME |
|---|---|---|
| Exhibit-P10 | TRUE COPY OF THE HON'BLE COURT DA APPLICATION NO. |
ORDER PASSED BY THIS TED 21.12.2022 IN BAIL 10408/2022 |
| Exhibit-P11 | TRUE COPY OF THE DATED 02.01.2023 PETITIONER IN B. |
IMPLEADING PETITION FILED BY THE 1ST A NO. 10408/2022 |
| Exhibit-P12 | TRUE COPY OF THE HON'BLE COURT DA APPLICATION NO. |
ORDER PASSED BY THIS TED 04.01.2023 IN BAIL 10408/2022 |
| Exhibit-P13 | TRUE COPY OF THE HON'BLE COURT DA APPLICATION NO. |
ORDER PASSED BY THIS TED 11.01.2023 IN BAIL 10408/2022 |
| Exhibit-P14 | TRUE COPY OF THE BY THE 1ST PETIT RESPONDENT DATED |
REPRESENTATION GIVEN IONER TO THE 2ND 21.12.2022 |
| Exhibit-P15 | TRUE COPY OF THE THE 5TH RESPONDE |
COMPLAINT SUBMITTED TO NT DATED 21.12.2022 |
1 issue framed by the court
Whether the matter under investigation involving deposit schemes located in more than one State warrants transfer to Central Bureau of Investigation under Section 30 of the Banning of Unregulated Depo
1 provisions across 1 enactments
Saju P Varghese and others
The Secretary to Government Home Department
The Director General of Police
Central Bureau of Investigation
Union of India represented by Secretary to Government Ministry of Finance
P.V. Kunhikrishnan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
