ORDER

The application is filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 , by the accused Nos. 1 and 2 in Crime No. 1050/2025 registered by the Kannur Town Police Station, Kannur, alleging the commission of offences punishable under Sections 316 (2), 318(4) and 316(5) of the Bharatiya Nyaya Sanhita, 2023 . The petitioners were arrested and remanded to judicial custody on 12.01.2026.

2. The prosecution case, in a nutshell, is that:

The first petitioner was appointed as a Chief Executive Officer of a group of business establishments named “Sheri or Sherry brand," which is owned by the second respondent (defacto complainant) and his wife. The second petitioner, who is the husband of the first petitioner, was engaged in the managerial and supervisorial role on a commission basis. During the period from 01.08.2024 to 18.08.2025, the petitioners had, to make unlawful gain for themselves and to make unlawful loss to the second respondent, misappropriated Rs.1,40,00,000/- from the business establishments. Thus, the petitioners have committed the above offences.

3. I have heard the learned counsel appearing for the petitioners, the learned Public Prosecutor, and the le