IMPORTANT POINT
Anticipatory bail denied due to serious allegations of large-scale financial fraud, necessitating custodial interrogation to prevent evidence tampering and uphold public interest.

 ORDER :

A. Badharudeen, J.

This is an application for anticipatory bail filed under Section 482 of the Bharatiya Nagarik Suraksha Sanhita , 2023, by Sri.Martin Joseph contending that he got arrayed as the 10^th accused in Crime No.112/2024 of Angamaly Police Station and he apprehends arrest therein.

2. Heard the learned counsel for the petitioner and the learned Additional Director General of Prosecution. Perused the report as well as the case diary placed.

3. In this matter, crime was registered alleging that the accused persons including the petitioner, who are the members of the Managing Committee/Board of Directors of the Angamaly Urban Co-operative Society, abused their position with intention to cause undue loss to the Society, have sanctioned fake loans and renewed loans by using the same documents in the name of fake persons and misappropriated Rs.55 Crore which belonged to the Society. Thus, crime was registered alleging commission of offences punishable under Sections 406 , 408, 417, 465, 467, 468, 471, 420 r/w Section 34 of the Indian Penal Code as well as under Sections 13 (1)(a) and 13(2) of the Prevention of Corruption Act , 1988. Thereafter, as submitted by the learned ADGP, during the course of investigation, it has been revealed that, as of now, the misappropriation of money would come to Rs.115.8 Crores.

4. It is submitted by the learned counsel for the petitioner, who got arrayed as the 9^th accused, as per the report of the Investigating Officer and as submitted by the learned ADGP, that the petitioner herein is innocent and he has no role in granting new loans. According to the learned counsel for the petitioner, the petitioner herein worked as Managing Committee member of Angamaly Co-operative Society from 25.10.2022 onwards and during his tenure, he renewed certain earlier loans granted and he did not sanction any new loans, as contended. Therefore, the complicity of the petitioner herein is much less in this case and in such view of the matter, the petitioner herein deserves anticipatory bail and he is ready to obey any conditions imposed by this Court as a pre-requisite for grant of anticipatory bail.

5. The learned ADGP strongly opposed grant of anticipatory bail to the petitioner who is on the same footing as that of the other accused persons except Sri.T.V.Benny , whose complicity found to be very less and he was the only Director Board member, who opposed grant and renewal of loans, for whom this Court granted anticipatory bail, as the same was not opposed by the prosecution.

6. The learned ADGP narrated the genesis of the case, which originated on the strength of a report prepared by the Assistant Registrar under Section 65 of the Kerala Co-operative Societies Act , highlighting misappropriation of money to the tune of Rs.96.78 Crores, which on again when verified for the purpose of preparing report under Section 68 (1), increased to an amount of Rs.115.8 Crores. As of now, the investigation revealed that Rs.115.8 Crores is the total amount misappropriated by the accused.

7. According to the learned ADGP, this is a huge scam, whereby many depositors were affected and the overt acts of the petitioner in this crime are well made out, prima facie. On finding so, earlier bail applications filed by other Managing Committee members were dismissed by this Court. Again, the 2^nd anticipatory bail plea, at the instance of accused Nos.5, 8 and 13 were also dismissed by this Court on 18.06.2025. As regards to grant of bail to Sri.T.V.Benny , as per the order, dated 23.10.2024 in B.A.No.6963/2024 is concerned, it is