O R D E R

This application is filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 seeking regular bail.

2. The applicant is the accused No.1 in Crime No.771/2024 of Kongad Police Station, Palakkad. The offences alleged are punishable under Sections 318(4) of the Bharathiya Nyaya Sanhitha, 2023 and Section 4 read with Section 22 of the BUDS Act .

3. The prosecution case, in short, is that the applicant along with two other accused being the Directors of finance company by name Sreepura Dhanam Nidhi Ltd. at Keralassery, promised and made believe to the defacto complainant that if fixed deposits are made, they will give 9% interest per annum. They collected 2,42,000/- from the defacto complainant as fixed deposit. But did not pay any amount as interest or the principal amount even after maturity.

4. I have heard Sri.Sarath M.S., the learned counsel for the applicant and Sri.E.C.Bineesh, the learned Senior Public Prosecutor. Perused the case diary.

5. The learned counsel for the applicant submitted that the applicant is innocent and has been falsely implicated in the present case. The counsel further submitted that no materials are on record to connect the applicant