O R D E R

The 11^th accused in C.C.No.459/2015 on the files of the Judicial First Class Magistrate Court-I, Mavelikkara, has filed this petition, aggrieved by the dismissal of C.M.P.No.196/2017 filed by him before the learned Magistrate seeking discharge from the criminal proceedings in the aforesaid case.

2. The final report in the said case was filed by the CBCID, Economic Offences Wing alleging the commission of offences under Section s 406 & 420 read with Section 3 4 of the Indian Penal Code , 1860, Section s 58 (b), 4A & 58(c) of the Reserve Bank of India Act , 1934, and Section 3 of the Kerala Chitties Act , 1977. The allegation against the accused is that they collected huge amounts of money extending up to Rs.14,00,73,847/- from various depositors without licence and conducted chitties, and thereafter failed to repay the amount with interest, as assured, to the depositors.

3. In the present petition, the petitioner would contend that he is neither a shareholder nor Director in the accused company, and hence he is not liable to be prosecuted for the aforesaid offences. It is further contended by the petitioner that in a writ petition filed by him before this Court as W.P.(