ORDER

The petitioner is the 10^th accused in C.C.No.41/2016 on the file of the Special Additional Chief Judicial Magistrate Court, Thrissur, which arises from Crime No.539/2012 registered by the Thrissur Town West Police Station against the accused persons alleging them to have committed the offences punishable under Sections 120 B, 406 and 420 r/w Section 34 of the Indian Penal Code, 1860 and Sections 4 , 5 and 6 of the Price Chits and Money Circulation Scheme (banning) Act, 1978.

2. The gist of the prosecution case is that, the 4^th accused is Managing Director of the accused 1 to 3 Companies, the accused 5 to 13 are the Directors of the above companies and accused 14 to 16 are its Promotional Shareholders. The 1^st accused Company was incorporated on 12.07.2007. The 2^nd accused company was incorporated on

01.01.2010 as ‘Nano Power Corporation Ltd’. But, its name was changed to ‘Nano Excel Corporation Ltd’ on 26.02.2010. The 3^rd accused Company was incorporated on 01.11.2012 for promoting the businesses of the accused 1 and 2 Companies. The accused persons had influenced people through advertisement and deceived them to invest money by promising to pay high profits. However, the ac