The High Court modified the bail condition imposed on the petitioner, an accused in the T.N. Prevention of Money Laundering Act case, reducing the required deposit amount from Rs.10,00,000/- to Rs.2,00,000/- while retaining other conditions.
Condition No. 6 regarding the deposit of Rs.10,00,000/- is modified to Rs.2,00,000/-.
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 JUDICATURE AT MADRAS
DATED 19.07.2018
CORAM
THE HONOURABLE Mr.JUSTICE P.N.PRAKASH
CRL.O.P.No.18010 of 2018
M.E.Venu .. Petitioner
Vs The State of Tamil Nadu Rep. by Inspector of Police, EOW, Guindy, Chennai. [Crime No.12/2017] .. Respondent
Criminal Original Petition filed under Section 482 of Cr.P.C., praying to modify the condition of depositing Rs.10 Lakhs to the credit of the case as ordered by the Hon'ble Special Judge TNPID Act in Crl.M.P.No.845 / 2018 pending investigation in Cr.No.12/2017 on the file of the respondent police.
For Petitioner : Mr.T.Chandrasekar For Respondent : Mr.C.Raghavan Govt. Advocate
O R D E R
The petitioner is an accused in Crime No.12 of 2017 for the offences under Section 420, 406, 120[b] IPC and Section 3 of TNPID Act, 1997. He was arrested by the Police on 26.04.2018. Since no final report was filed within 60 days, the petitioner was released on bail in Crl.M.P.No.845 of 2018 on 28.06.2018 by the Special Court for TNPID Act cases, Chennai, on certain conditions, in which the petitioner was directed to deposit Rs.10,00,000/- to the credit of the case. This petition has been filed for modification of the aforesaid condition.
2.Heard the learned counsel for the petitioner and the learned Government Advocate appearing for the respondent.
3.Learned counsel for the petitioner submitted that the petitioner was not a Shareholder and only a Director and that, he was getting salary from M/s.Thirupura Chits Pvt. Ltd. [A1]. He further contended that the condition to deposit Rs.10,00,000/- is indeed onerous. In support of his submission, he placed reliance upon the unreported Common Order [dated
24.10.2017] of Madurai Bench of this Court in Amaldoss and others Vs Inspector of Police, Patteeswaram Police Station, Thanjavur District.
4.Per contra, learned Government Advocate submitted that the petitioner was a Director in M/s.Thirupura Chits Pvt. Ltd., in support of which, he produced Form-32. He further submitted that 4000 persons have been cheated to a tune of Rs.95 Crores. He further submitted that Krishnaprasad [A2] who was the Managing Director of A1 was granted bail, on condition that he deposits Rs.10,00,000/-.
5.Taking into consideration all these factors, this Court is of the view that interest of justice will be served, if condition No.6[3] is modified by reducing Rs.10,00,000/- to Rs.2,00,000/-. Rest of the conditions shall remain the same. On such deposit, the TNPID Court shall redeposit the amount in a Fixed Deposit account in any nationalised bank and the same can be disbursed to the victims at the appropriate time.
With the above modification, this petition is ordered
accordingly.
Sd/-
Assistant Registrar(CS-VII)
//True Copy//
Sub Assistant Registrar
gya
To
1.The Special Judge,
Special Court under TNPID Act Cases,
Chennai.
2.The Inspector of Police,
EOW, Guindy, Chennai.
3.The Public Prosecutor,
High Court, Madras.
+1cc to Mr.T.CHANDRASEKARAN, Advocate, S.R.No. 48116
CRL.OP.No.18010 of 2018
NA(CO)
TR(20/07/2018)
1 issue framed by the court
Whether the condition to deposit Rs.10,00,000/- by the petitioner can be modified to a lesser amount in the interest of justice.
M.E. Venu
The State of Tamil Nadu
P.N. Prakash
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
