The petitioner herein is the accused in Crime No.624/2014 of the Pooyappally Police Station in Kollam district. The crime was registered suo moto by the police on the basis of seizure of some materials from the possession of the petitioner, like, diary, business cards, etc. The prosecution case is that at about 12 noon on 25.5.2014, the petitioner was found involved in unauthorised money lending business. He was arrested on the spot by the police, and the above mentioned materials were seized from his possession. When produced before the learned Judicial First Class Magistrate Court-II, Kottarakkara he was remanded to judicial custody, and his application for bail was dismissed by the learned Magistrate. Now, the petitioner/accused seeks bail from this Court.
2. As required by this Court, the learned Public Prosecutor produced the case diary along with report of the Investigating Officer. On hearing both sides and on perusal of the case diary this court does not find any material under Sec.420 IPC. It is not known who was cheated, or who complained to the police about cheating. Any way, the crime was registered on the basis of seizure of something like business cards, diary etc. Whether these things will prove a case of unauthorised money lending is a matter to be decided on trial. A perusal of the case diary shows that investigation is midway, and the police requires some more time for effective investigation. It was submitted that the accused was arrested as part of a move in the State of Kerala, by name, “Operation Kubera” to detect and arrest persons involved in unauthorised money lending business. Of course, if the police finds the necessity of some more time to complete major part of investigation under the provisions of the Kerala Money Lenders Act, it will have to be considered. However, I feel that such investigation can be completed by the police by the expiry of the first remand period. On expiry of the period of remand, the petitioner can be released on bail on conditions.
3. In the result, this petition is allowed. The petitioner will be released on bail, on expiry of the first period of remand, on his executing bond with two solvent sureties for Rs.50,000/- (Rupees fifty thousand only) each to the satisfaction of the learned Magistrate. After release, the petitioner shall not leave the limits of Pooyappally Police Station for a period of two months, he shall not leave the State of Kerala without the permission of the learned Magistrate till final report is submitted, and he shall report before the Investigating Officer between 10 am. and 11 am. on all Fridays till final report is submitted.
Sd/-
P. UBAID, (Judge) Kvs/-
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PA TO JUDGE.