This Crl.M.C. is field by the accused in Crime No. 154/97 registered by the Manarcadu Police to set aside the proceedings taken by the investigating officer for freezing the accounts maintained by the accused-petitioner as per Annexures C to G and to allow the petitioner's company to operate the accounts in the normal course of business with all the banks in which the company has got deposits and to direct the 2nd respondent to return all the books of accounts, computers and other documents seized from the office of the company so as to enable the petitioner to carry on the business of the company without any let or hindrance, under section 482 of the Cr.P.C.

2. Crime No. 154/97 is registered by the Manarcadu Police against M/s. Prizindia Ltd. a public limited company of which the petitioner is the Chairman and Managing Director alleging offence punishable under Section 420 of the I.P.C. on the basis of the complaint field by Johnykutty K. Joseph. During the course of the investigation the investigating officer found that the petitioner had collected large amounts from various depositors promising to invest the amount very lucratively and cheated them. The investigating