The accused Nos.1,2 and 4 in a calendar case, wherein the accused Nos.1 to 5 stood charged under Section 5 of the TNPID Act and Section 120(B) r/w 420 and 406 I.P.C., the first and second accused were found guilty under Section 5 of TNPID Act and ordered to pay a fine of Rs.50000/- each, the 4th accused was found guilty of the charge under Section 5 of TNPID Act and sentenced to undergo R.I. for 5 years and to pay a fine of Rs.50000/-, in default, sentenced to undergo R.I. for a period of 6 months, the 4th accused was also found guilty under Section 406 I.P.C. and sentenced to undergo R.I. for one year, the 4th accused was found not guilty u/s 120(B) r/w 420 I.P.C. and acquitted thereof, the 3rd accused was acquitted of the charge u/s 5 of TNPID act and the 5th accused was found not guilty u/s 120(B) r/w 420 I.P.C., 406 IPC and Section 5 of TNPID Act and acquitted thereof, have brought forth this appeal.

2. The brief facts necessary for the disposal of this appeal can be stated thus:

a) The accused No.4 was carrying on business of receiving fixed deposits and recurring deposits from the public in the name of accused Nos.1 to 3 and they were carrying on chit business also