Anticipatory bail can be granted when existing court orders support the accused's position, provided conditions are set to ensure cooperation with the investigation.

ORDER

Petitioner is the 2nd accused in Crime No.432 of 2022 of Thrissur West Police Station alleging commission of offences punishable under Sections 406 and 420 of the Indian Penal Code and also for violation of Section 5 of the Banning of Unregulated Deposits Scheme Act . Petitioner is the director of a nidhi company, a company registered under the Companies Act. It is the contention of the petitioner that in 2019 the Central Government amended the Nidhi Rules, 2014 and made it a mandatory for all existing nidhi to get themselves declared as such by the Central Government by filing an appropriate application in that regard and several nidhi companies like the petitioner approached this Court filing various writ petitions which culminated in Annexure-A2 interim order whereby the nidhi companies who are petitioners therein were permitted to enrol new members and accept deposits but with certain riders. Petitioner has also moved this Court filing W.P.(C) No.18400 of 2021 and by Annexure-A3 order an order similar in the nature of Annexure-A2 order was issued in favour of the petitioner also. While so, the present crime was registered essentially on the allegation that the 1st accused nidhi company is functioning without any authorisation or necessary documents in this regard. It is seen that Annexure-A4 First Information Report (FIR) was registered on 24.04.2022 based on Annexure-A6 communication submitted by the Registrar of Companies on 11.04.2022. It is the contention of the petitioner that even prior to that, ie., as on 23.02.2022 by Annexure-A3 order this Court has permitted the petitioner to function with certain conditions. Therefore, it is contended that the registration of Annexure- A4 FIR is absolutely without any basis.

2. Learned Public Prosecutor, upon instructions, submits that the investigation is at the initial stage and the custodial interrogation of the accused is necessary in the case as there are several documents to be obtained which are kept in the custody of the accused. It is further submitted that the accused have accepted more deposits other than the list procured in the search.

3. Having regard to the facts and circumstances of the case and considering the nature of the allegations against the petitioner, I am of the opinion that the petitioner can be granted anticipatory bail subject to the following conditions.

In the result, the bail application is allowed. It is directed that the petitioner shall be released on bail, in the event of his arrest in Crime No.432 of 2022 of Thrissur West Police Station subject to the following conditions:

(i) Petitioner shall execute a bond for Rs.50,000/- (Rupees fifty thousand only) with two solvent sureties each for the like sum to the satisfaction of the jurisdictional court.

(ii) Petitioner shall appear before the investigating officer for interrogation on 3rd, 4th and 5th of June, 2022 and continue to appear as and when required by the investigating officer.

(iii) He shall not attempt to interfere with the investigation or to influence or intimidate any witness.

(iv) He shall not involve in any other crime while on bail.

If any of the aforesaid conditions are violated, the investigating officer may file an application before the jurisdictional court for cancellation of bail.