1. The petitioner herein is the accused in C.C No.644 of 2015 on the files of the Judicial First Class Magistrate Court, Kakkanad. In the aforesaid case, he is facing prosecution for offences punishable under S.3 r/w 17 of the Money Lenders Act and S.3 and S.4 of the Kerala Prohibition of Charging Exorbitant Interest Act .

2. Short facts of the case are as under:
In the statement given by the informant before the police, it is alleged that the informant had mortgaged his property with the ICICI Bank, Edappally. On the assurance given by the petitioner that he shall advance amounts to enable the informant to repay the amounts due to the Bank, a sale deed was executed and registered in favor of the petitioner by way of security. At the time of registration, the petitioner paid a sum of Rs. 7 lakhs, and thereafter, a sum of Rs. 3 lakhs was paid. The registration was effected on the understanding that as and when the loan amount, together w