This petition has been filed praying to modify the condition in respect of depositing a sum of Rs.2 lakhs, imposed on the petitioner in the order dated 23.02.2017 passed in Crl.M.P.No.661 of 2017 in Crime No.2 of 2016, by the Special Court under the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997, Madurai.
2.The learned counsel for the petitioner submits that the petitioner, who was one of the silent partner in the Finance Company, has been arrayed as accused No.5 for the alleged offences under
Sections 406,420,120(B) I.P.C. read with Sections 4 and 5(a) of Prize Chit and Money Circulation Schemes (Banning) Act 1978 and Section 5 of the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997.
3.The learned Government Advocate (Crl. Side) submits that the total number of victim depositors is 33 and the total amount defrauded by the petitioner and other accused runs to above Rs.1 crore.
4.Considering the quantum of amount alleged to have been cheated by the petitioner and others, this Court is not inclined to entertain this petition. However, the learned counsel for the petitioner submits that the petitioner, as of now, has no liquid cash in her hand, but she is ready to deposit title deed in her name worth Rs.2 lakhs as surety.
5.I see some force in the said submission. Hence, the condition is modified to the effect that instead of cash deposit, immovable property worth Rs.2 lakhs may be deposited subject to the satisfaction of the learned Special Judge under the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997, Madurai. All other conditions stand unaltered and the Criminal Original Petition is disposed of accordingly.
To
1.The Special Judge under the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997, Madurai.
2.The Inspector of Police, E.O.W.-II, Virudhunagar.
3.The Additional Public Prosecutor, Madurai Bench of Madras High Court, Madurai..