Kerala High Court Grants Bail to Woman Accused in Multiple Financial Fraud Cases, Cites Parity and Custody Period

Ernakulam, Kerala – The Hon’ble High Court of Kerala, in a common order disposing of twenty-two bail applications, has granted regular bail to Ms. Sindhu V Nair , aged 59, who is implicated as the second accused in numerous financial fraud cases. Justice Bechu Kurian Thomas , presiding over the bench, emphasized the principles of parity and considered the petitioner's gender and the duration of her judicial custody in granting relief.

Case Overview

Ms. Sindhu V Nair sought regular bail under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) in connection with multiple crimes registered across various police stations, now under investigation by the Crime Branch Criminal Investigation Department (CBCID), Pathanamthitta. The allegations against her and other co-accused primarily involve offences under Sections 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating and dishonestly inducing delivery of property), and 120B (criminal conspiracy) read with Section 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code, 1860. Additionally , charges were framed under Sections 3 read with 21 (contravention of provisions of the Act and punishment) and 5 read with 23 (offences by deposit takers other than individuals) of the Banning of Unregulated Deposit Schemes Act, 2019.

The prosecution's case, consistent across all complaints, is that Ms. Nair , along with other accused, allegedly conspired to unlawfully collect deposits from numerous complainants through M/s. G & G Financiers (previously known as PRD Nidhi Limited). They are accused of falsely promising high rates of interest, subsequently failing to pay the promised interest, and refusing to return the principal amounts deposited, thereby defrauding the investors.

Ms. Nair had been in judicial custody since March 6, 2025, in some cases, and March 11, 2025, in others, with the court noting her actual period in custody commenced from February 6, 2025.

Court's Reasoning and Decision

The High Court heard arguments from the counsel for the petitioner and the learned Public Prosecutors representing the State of Kerala.

Justice Bechu Kurian Thomas observed that the petitioner had already been granted bail in several similar and connected cases by previous orders of the Court (B.A. Nos.4576/2025, 5720/2025 and connected cases). The Court highlighted key factors considered in those earlier decisions: * The petitioner is a woman. * The petitioner has been in judicial custody since February 6, 2025.

In extending the relief of bail in the present batch of applications, the Court stated:

"Since in similar and connected matters, petitioner has already been directed to be released on bail, and as no reasons are pointed out to avoid extending the benefit of bail in these applications as well, this Court is of the view that petitioner ought to be released on bail in these applications as well."

Bail Conditions

The Court allowed all twenty-two bail applications, directing Ms. Sindhu V Nair to be released on bail upon executing a bond for ₹50,000 (Rupees fifty thousand only) in each crime, with two solvent sureties each for the like sum, to the satisfaction of the jurisdictional court. The bail is subject to the following conditions:

1. Cooperation with Investigation : The petitioner shall appear before the Investigating Officer as and when directed.
2. Non-interference : The petitioner shall not directly or indirectly make any inducement, threat, or promise to any person acquainted with the facts of the case so as to dissuade them from disclosing such facts to the court or any police officer.
3. No Further Offences : The petitioner shall not commit any offence while on bail.
4. Surrender of Passport : The petitioner shall surrender her passport, if any, before the jurisdictional court. If already surrendered, an affidavit to that effect must be filed. If she does not possess a passport, an affidavit stating so must be filed on the date of executing the bond.
5. Cancellation of Bail : In case of violation of any of the above conditions, the jurisdictional court is empowered to consider any application for cancellation of bail and pass appropriate orders in accordance with the law.
6. Modification of Conditions : Applications for deletion or modification of bail conditions can be filed and will be entertained by the jurisdictional courts.

This decision underscores the judiciary's approach to bail in cases involving multiple similar offences, especially when prior relief has been granted and considering the specific circumstances of the accused, such as gender and duration of pre-trial detention.