ORDER :

These Bail applications filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 are connected and therefore, I am disposing of these cases by a common order.

2. Petitioners are accused Nos. 1 and 3 in Crime No.ECIR/KZSZO/01/2023 of Enforcement Directorate, Kozhikode. The above case is registered alleging commission of offence of Money Laundering as defined under Section 3 of the Prevention of Money Laundering Act, 2002 (for short 'Act 2002'), which is punishable under Section 4 of Act 2002.

3. The prosecution case in brief is like this:

The accused in the above crime were the promoters of a company by name, 'Kannur Urban Nidhi Limited' (KUNL), which is offering 12 to 12.5% interest on fixed deposits. The company had accepted fixed deposits from several investors. According to the prosecution, the accused diverted those funds for the establishment and running of another company by name, 'Anytime Money Pvt. Ltd.' (ATM) and to the personal accounts of the petitioners and other accused. According to the prosecution, the accused embezzled around Rs.40 Crores by cheating the investors. So many cases are registered against the accused by the Crime Branch of Kannur an