Petitioner is the first accused in Crime No.233 of 2014 of the Upputhara Police Station for the offence punishable under Sections 3 read with Section 17 of the Kerala Money Lenders Act 1958, apprehends arrest and has filed the application. 2. Learned Public Prosecutor has opposed the application. It is submitted that M/s.Royal Vision Charitable Trust, Upputhara of which the petitioner is the managing trustee is engaged in lending money to various kudumbasree units on the strength of demand promissory notes executed by them and is realising the amount from them with interest. It is submitted that the premises of the trust was searched on 05.06.2014, the second accused was arrested at the spot and 175 demand promissory notes, a passbook and daily collection register were seized.
3. Learned counsel submits that the allegations are not true.
The demand promissory notes are not issued by the petitioner but by the trust. It is also submitted that financial assistance being rendered by the trust is in accordance with its objectives.
4. It appears to me that the amount disbursed (or lent as the case may be) by the trust to the various units is being realised with interest. The trust cannot engage in money lending business without obtaining permission from the appropriate authorities. But on hearing the learned counsel and learned Public Prosecutor, I am inclined to think that the custodial interrogation of the petitioner is not required. Hence, I am inclined to grant relief but subject to conditions.
The application is allowed as under :
1. Petitioner shall surrender before the officer investigating Crime No.233 of 2014 of the Upputhara Police Station on 05.07.2014 at about 10 am for interrogation.
2. In case interrogation is not completed that day, the petitioner shall appear before the officer investigating the case any other day/days, time and place as directed by the investigating officer.
3. In case petitioner is arrested, he shall be produced before the jurisdictional magistrate the same day.
4. On such production, the petitioner shall be released on bail (if not required to be detained otherwise) on his executing bond of `20,000/- (Rupees twenty thousand only) with two sureties for the like sum each to the satisfaction of the learned magistrate and subject to the following conditions :
a. One of the sureties shall be a close relative of the petitioner.
b. Petitioner shall report to the investigating intimidate any of the witnesses.
d. Petitioner shall not get involved any offence during the period of this bail.
d. The trust or the petitioner shall not engage in money lending business except with the licence obtained from the appropriate authority.
e. In case any of condition Nos.(b) to (d) is violated, it is open to the investigating officer to file application before the learned magistrate for cancellation of the bail granted hereby, as held in P.K.Shaji v.State of Kerala [AIR 2006 SC 100].
AMV sd/- THOMAS P. JOSEPH JUDGE /TRUE COPY/ P.A.TO JUDGE