The petitioner herein is the 4th accused in Crime No.832 of 2014 of Muvattpuzha Police Station, registered under Sections 489B and 489C of Indian Penal Code. The accused Nos.2 and 3 in this crime were arrested by the Police when they came in the Muvattupuzha branch of the State Bank of India with some fake currency. When the police interrogated accused Nos.2 and 3, they got reliable information and materials against some others including the petitioner herein. Without any delay, the Police conducted a search in the rented house being occupied by the accused, on 3.4.2014. Huge quantity of fake currency was seized by the Police on search, and in such a circumstance, the petitioner herein was also arrested as co-accused. When produced before the learned Magistrate having jurisdiction, he was remanded to judicial custody. His application for bail before the Court of Session, Ernakulam under Section 439 of Cr.P.C was dismissed by order dated B.A No.3892 of 2014 2 24.5.2014. Now he is before this Court under Section 439 of Cr.P.C. 2. As required by the court, the learned Public Prosecutor produced the case diary with report of the Investigating Officer. On a perusal of the case diary and police report, and also on hearing both sides, I feel it not safe and proper to release the petitioner at this stage. I find that effective investigation is required to detect the others involved in the crime. It is submitted that the 1st accused is yet to be detected and arrested. The fake currency seized from the possession of the accused is not one or two, but, a huge quantity of thousands of rupees. There is no doubt that the offence alleged against the petitioner and others is a serious one against our national economy. In such matters, the accused cannot be casually or lightly released on sensitive grounds. I find that some more time is required by the Police to complete major part of investigation including the detection and arrest of the main accused in the crime. If the others are now released, it will definitely obstruct the proper and effective investigation. In these B.A No.3892 of 2014 3 circumstances, this application is liable to be dismissed. The petitioner's request will be considered at a later stage when major part of the investigation is over.
In the result, this application for bail is dismissed.
ma /True copy/ Sd/- P.UBAID JUDGE P.S to Judge