Anticipatory bail is not maintainable in cases of serious economic offenses involving conspiracy and large-scale misappropriation of funds where custodial interrogation is required and there are no significant changes in circumstances since a prior rejection.

ORDER :

A. BADHARUDEEN, J.

This is the 2^nd application for anticipatory bail filed under Section 482 of the Bharatiya Nagarik Suraksha Sasnhita, 2023, by the petitioners, who are accused Nos.24 to 26 in Crime No.252/2021 of Crime Branch Economic Offences Wing, Thrissur.

2. Heard the learned senior counsel for the petitioners as well as the learned Public Prosecutor.

3. Here, the prosecution allegation is that, accused Nos.1 to 31 have committed offences punishable under Sections 120B , 406, 409, 465, 468, 471 and 420 r/w Section 34 of the Indian Penal Code and under Sections 13(1)(c) and (d) r/w Section 13(2) of the Prevention of Corruption Act, 1988 and Section 13(1)(a) r/w Section 13(2) of the Prevention of Corruption (Amendment) Act, 2018.

4. The prosecution case is that the accused herein hatched conspiracy and as an outcome of the same, they have obtained membership bearing No.18637 in the name of the complainant and thereafter, by using forged documents by providing the property of the 1^st accused, a sum of Rs. 25 lakh was granted as loan vide SLM No.3929 dated 16.07.2011. Subsequently, in the same mode, on 27.03.2014, SLM No.4589 for Rs. 25 lakh; on 09.03.2015, SLM No.4843 for Rs. 50 lakh; on 26.03.2016, SLM No.5180 for Rs. 50 lakh; on 20.03.2017, SLM No.5495 for Rs. 50 lakh; on 31.03.2018, SLM No.5940 for Rs. 50 lakh; and on 11.11.2014, vide BOD No.744 for Rs. 50 lakh, were obtained, and the accused persons misappropriated the same through RUBCO. Thus, misappropriation of the principal amount of Rs. 3 Crore, along with accrued interest is involved in the case. In this connection, the complainant Sri.Muhammed Abdul Riyas filed a complaint before the Vigilance and crime was registered.

5. The learned counsel for the petitioners pointed out the age of the accused persons while canvassing anticipatory bail. According to him, the petitioners are innocent and they are ready to co-operate with the investigation.

6. The learned Public Prosecutor strongly opposed the grant of anticipatory bail to the petitioners and submitted that the allegations against them are grave and that their arrest, custodial interrogation, taking of specimen signatures, and recovery of the money are necessary, and in such circumstances, the grant of anticipatory bail would impede the investigation.

7. In this matter, earlier, the petitioners herein have filed B.A.No.13738/2025 seeking anticipatory bail and as per Annexure 2 order dated 02.12.2025, this Court dismissed the said bail application mainly on the ground that arrest, custodial interrogation, and collection of specimen signatures were necessary for the purpose of investigation and alleged recovery of details relating to the misappropriation, with direction to the petitioners/accused to surrender before the Investigating Officer forthwith. Paragraph Nos.3 to 9 of B.A.No.13738/2025 are relevant and are extracted as under:

3. Here, the prosecution allegation is that, accused Nos.1 to 31 have committed offences punishable under Sections 120B , 406, 409, 465, 468, 471 and 420 r/w Section 34 of the Indian Penal Code (for short, ‘the IPC’ hereinafter) and under Sections 13(1)(c) and (d) r/w Section 13(2) of the Prevention of Corruption Act, 1988 (for short, ‘the PC Act, 1988’ hereinafter) and Section 13(1)(a) r/w Section 13(2) of the Prevention of Corruption (Amendment) Act, 2018 (for short, ‘the PC (Amendment) Act, 2018’ hereinafter).

4. The prosecution case is that the accused herein hatched conspiracy and as an outcome of the same, they have obtained membership bearing No.18637 in the name of the complainant and thereafter, by using forged documents by providing the property of the 1^st accused, a sum of Rs. 25 lakh was granted as loan vide SLM No.3929 dated 16.07.2011. Subsequently, in the same mode, on 27.03.2014, SLM No.4589 for Rs. 25 lakh; on 09.03.20