Kerala High Court
Ncs Depositors' Welfare Society ... vs State Of Kerala on 18 August, 2025
Author: P.V.Kunhikrishnan
Bench: P.V.Kunhikrishnan
W.P.(Crl.) No.985 of 2025
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE P.V.KUNHIKRISHNAN
MONDAY, THE 18TH DAY OF AUGUST 2025 / 27TH SRAVANA, 1947
WP(CRL.) NO. 985 OF 2025
PETITIONERS:
1 NCS DEPOSITORS' WELFARE SOCIETY REPRESENTED BY ITS
SECRETARY MR. UNNIKANNAN N
AGED 50 YEARS
NCS DEPOSITORS' WELFARE SOCIETY (REG. NO:
TVM/TC/211/2025) SPARK ENTERPRISES, TC-40/26-1,
OPP. SOUTH FORT, ATTAKULANGARA -SREE VARAHAM ROAD,
TRIVANDRUM RESIDING AT KRISHNA, TC.13/198 (8),
GNRA 69-B, GANGA NAGAR, MANACAUD, TRIVANDRUM, PIN
- 695023
2 NCS DEPOSITORS' WELFARE SOCIETY REPRESENTED BY ITS
PRESIDENT MR. SHIBU ABRAHAM CHERIAN
AGED 54 YEARS
S/O. CHERIAN MUTHALALI, NCS DEPOSITORS' WELFARE
SOCIETY (REG. NO: TVM/TC/211/2025) SPARK
ENTERPRISES, TC-40/26-1, OPP. SOUTH FORT,
ATTAKULANGARA - SREE VARAHAM ROAD, TRIVANDRUM
OPPOSITE UTHRADAM TOWERS, HOUSE NO. 188 B,
THARAPADHAM LANE, EBEES COLONY, KUNNUKUZHY WARD,
VANCHIYOOR VILLAGE, THIRUVANANTHAPURAM, PIN -
695023
3 GITHU ISSAC
AGED 30 YEARS
S/O. K P ISSAC, RESIDING AT KOOLIYAT(H), THURUTHY
PO, PRALAIKKAD, ERNAKULAM, PIN - 683545
BY ADVS.
SHRI.ANOOP V.NAIR
SHRI.SHERRY GEORGE CHERIAN
SMT.BINDU SHERRY GEORGE
SMT.SHARANNYA P.
SHRI.ATHUL P.
W.P.(Crl.) No.985 of 2025
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RESPONDENTS:
1 STATE OF KERALA
REPRESENTED BY PUBLIC PROSECUTOR, HIGH COURT OF
KERALA ERNAKULAM DISTRICT, PIN - 682031
2 THE COMPETENT AUTHORITY & SUB DIVISIONAL
MAGISTRATE,
(APPOINTED UNDER THE BUDS ACT, 2019) OFFICE OF THE
REVENUE DIVISIONAL OFFICER, THIRUVANANTHAPURAM,
PIN - 695001
3 THE DIRECTOR GENERAL OF POLICE
POLICE HEADQUARTERS, VAZHUTHACAUD,
THIRUVANANTHAPURAM, PIN - 695010
4 THE STATION HOUSE OFFICER
FORT POLICE STATION, THIRUVANANTHAPURAM,
PIN - 695001
5 THE STATION HOUSE OFFICER
THIRUVALLA POLICE STATION, PATHANAMTHITTA,
PIN - 68966
6 THE STATION HOUSE OFFICER
CHENGANNUR POLICE STATION, ALAPPUZHA DISTRICT,
PIN - 689121
7 THE STATION HOUSE OFFICER
CANTONMENT POLICE STATION, SECRETARIAT CANTONMENT
GATE, STATUE, THIRUVANANTHAPURAM -, PIN - 695001
8 UNION OF INDIA
DEPARTMENT OF REVENUE, MINISTRY OF FINANCE, NORTH
BLOCK, NEW DELHI - REPRESENTED BY THE PRINCIPAL
SECRETARY, PIN - 110001
9 THE DIRECTOR
DIRECTORATE OF ENFORCEMENT (ED), PRAVARTAN BHAVAN,
APJ ABDUL KALAM ROAD, NEW DELHI, PIN - 11001
0 THE ADDITIONAL DIRECTOR OF ENFORCEMENT
OFFICE OF THE DIRECTORATE OF ENFORCEMENT, KOCHI
ZONAL OFFICE, KANOOS CASTLE, MULLASSERY CANAL ROAD
WEST, A.K.SESHADRI ROAD, ERNAKULAM DISTRICT-,
PIN - 682011
11 RESERVE BANK OF INDIA (RBI)
CENTRAL OFFICE, SHAHID BHAGAT SINGH MARG, MUMBAI
W.P.(Crl.) No.985 of 2025
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REPRESENTED BY ITS GOVERNOR, PIN - 400001
12 NEDUMPARAMBIL GROUP OF COMPANIES (NCS)
DOOR NO. 420/35, SECOND FLOOR, PLANTHOTTAM
COMMERCIAL COMPLEX, THIRUVALLA, PATHANAMTHITTA
DISTRICT REPRESENTED BY ITS CHAIRMAN, MR. N.M.
RAJU @ RAJU GEORGE, PIN - 689101
13 NCS FINANCE PVT. LTD
DOOR NO. 420/35, SECOND FLOOR, PLANTHOTTAM
COMMERCIAL COMPLEX, THIRUVALLA, PATHANAMTHITTA
DISTRICT REPRESENTED BY ITS MANAGING DIRECTOR,
PIN - 689101
14 NEDUPARAMBIL NIDHI LIMITED
685/39 CHIT CHAT ARCADE, NEDUMPARAMBIL,
RAMANCHIRA, THIRUVALLA, PATHANAMTHITTA DISTRICT
REPRESENTED BY ITS MANAGING DIRECTOR, PIN - 689101
15 NEDUMPARAMBIL CREDIT SYNDICATE,
1ST FLOOR, PLAMTHOTTAM COMPLEX, KSRTC BUS STAND,
M C ROAD, THIRUVALLA REPRESENTED BY ITS MANAGING
PARTNER, PIN - 689101
16 N.M.RAJU
NEDUPARAMBIL GARDENS, THIRUVALLA P.O,
PATHANAMTHITTA DISTRICT, PIN - 689101
BY ADV SHRI.VINOD KUMAR.C, CGC
SR PP SRI HRITHWIK C S, SRI JAISHANKAR V NAIR, SC
THIS WRIT PETITION (CRIMINAL) HAVING COME UP FOR
ADMISSION ON 18.08.2025, THE COURT ON THE SAME DAY DELIVERED
THE FOLLOWING:
W.P.(Crl.) No.985 of 2025
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P.V.KUNHIKRISHNAN, J
--------------------------------
W.P.(Crl.) No.985 of 2025
-------------------------------
Dated this the 18th day of August, 2025
JUDGMENT
The above Writ Petition (Crl). is filed seeking the
following reliefs:
"i. Issue a writ of mandamus or any other appropriate writ,
order, or direction commanding the Respondents 1 to 11 to take
expeditious and effective action on the complaints filed by the
1st petitioner and other petitioners and individual depositors as
detailed in Exhibit P10, P11, P13 & P14 and to take effective
action on the same
and
ii. Issue a writ of mandamus commanding the 1 st and 3rd
Respondent to constitute a Special Investigation Team (SIT)
under the direct supervision of this 3 rd respondent to conduct a
comprehensive and time-bound investigation based on the
complaints filed by the 1st Petitioner Society and other petitioners
and depositors at Fort Police Station and various other police
stations, and encompassing the broader systemic financial fraud
orchestrated by Respondents 12 to 16, including all related
complaints, such as Crime No.240/2025 of cantonment Police
Station. and direct to take action against the respondents 12 to
16 as per law to recover the amounts lost for the depositors and
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secure the said amounts including attachment and seizure and
freezing of all accounts, properties and movables and immovable
of the respondents 12 to 16 and their family members.
iii. Issue a writ of mandamus order or direction directing the
respondents 1 to 11 to have a proper conduct of enquiry on the
activities of the respondents 12 to 16 and also about their
business transactions and the property transactions including
their Benami transactions regarding the transfer properties from
the name of respondents 12 to 16 and their family members, to
the Benami names and also direct to enquire about the account
details of the above respondents and their family members and
benamis and take immediate action including freezing, seizure
and attaching of all the properties and accounts.
iv. Issue a writ of mandamus commanding the 9 th and 10th
respondents to register an enforcement case information report
(ECIR) based on Exhibit P13 & P14 and investigate the complaints
under PMLA act including the money laundering aspects of this
large-scale financial fraud, including the tracing, provisional
attachment and eventual confiscation of all proceeds of crime and
direct to freeze, seize and attach all assets, properties movables
and immovable of the respondents 12 to 16 and their family
members and to recover the entire amount of the depositors.
v. Issue a writ of mandamus or any other appropriate writ, order,
or direction commanding Respondents 1 to 11 to immediately
freeze and seize all bank accounts, movable and immovable
assets, and other valuables belonging to Respondents 12 to 16
and their family members, and their directors, partners, and key
managerial personnel, as well as any benami properties linked to
them, to prevent their disposal or alienation, pending the
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comprehensive investigation and recovery proceedings, by the
respondents 1 to 11.
vi. To dispense with the filing of a translation of vernacular
document;
vii. To issue such other writ, order, or direction as this Honorable
Court deems fit to grant to the facts and circumstances of the
case."[SIC]
2. The 1st petitioner is a registered society
representing about 736 members at present, who are
aggrieved depositors of respondents 12 to 15.
3. The main prayer in this writ petition is to issue a
direction to effectively investigate the complaints of the
depositors and to constitute a special investigation team.
This Court directed the Public Prosecutor to get instructions.
The Public Prosecutor filed a statement narrating the facts. A
perusal of the statement would show that several crimes are
registered in various parts of the state, and the case is now
investigated by the Economic Offence Wing of the Crime
Branch. The Public Prosecutor also submitted that it will be
better to constitute a special investigation team because
several cases are registered by the police authorities based
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on the complaints of depositors residing in different parts of
the state. It is submitted that 312 crimes are registered as
on today.
4. The learned counsel for the petitioner also
submitted that the accused are trying to dispose their
property and unless respondent Nos.9 and 10 take
immediate steps, they will dispose their properties.
Consequently, the depositors will not get any amount. It is
submitted that Exts.P13 and P14 are submitted to
respondent Nos.9 and 10. I think, there can be a direction to
respondent Nos.9 and 10 to look into Exts.P13 and P14 and
do the needful in accordance with law. As far as the special
investigation team is concerned, there can be a direction to
the 3rd respondent to do the needful considering the gravity
of the offence and also the fact that there are several
aggrieved persons.
Therefore, writ petition is disposed of with the
following directions:
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1. The 3rd respondent will take necessary steps to
constitute a special investigation team to
investigate all the cases of the aggrieved depositors
within one month from the date of receipt of a copy
of this judgment.
2. The new investigating authority will proceed
with the investigation in accordance with law and
try to complete the investigation as expeditiously as
possible.
3. Respondent Nos.9 and 10 will look into
Exts.P13 and P14 and do the needful in accordance
with law and communicate the action taken in
Exts.P13 and P14 to the petitioners within two
months from the date of receipt of a copy of this
judgment.
Sd/-
P.V.KUNHIKRISHNAN, JUDGE
SMF
2025:KER:61950
APPENDIX OF WP(CRL.) 985/2025
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE CERTIFICATE OF
REGISTRATION BEARING SL NO.
TVM/TC/211/2025, DATED 24.04.2025,
Exhibit P2 A TRUE COPY OF THE FIR BEARING NO.
250/2024, DATED 04.04.2024 ISSUED FROM
EDATHUA POLICE STATION
Exhibit P3 A TRUE COPY OF THE ORDER IN CRL
M.C.6918/2024, DATED 03.04.2025, PASSED
BY THIS HON'BLE COURT
Exhibit P4 A TRUE COPY OF THE ORDER BEARING NO.
SC3/96/2024-HOME, DATED 27.03.2025,
ISSUED BY THE 1ST RESPONDENT,
Exhibit P5 TRUE COPY OF THE ORDER IN CRL. M.C. NO.
5262/2025 DATED 08.07.2025, PASSED BY
THIS HON'BLE COURT
Exhibit P6 A TRUE COPY OF ONE SUCH MISLEADING
MESSAGE CIRCULATED TO DEPOSITORS
Exhibit P7 A TRUE COPY OF THE SAID MINUTES, DATED
16.04.2025
Exhibit P8 A TRUE COPY OF THE NOTE ISSUED BY THE
16TH RESPONDENT TO DEPOSITORS, DATED NIL
Exhibit P9 TRUE COPY OF THE OPEN LETTER DATED
09.06.2025 ISSUED BY THE 1ST PETITIONER
SOCIETY TO THE 12 TO 16TH RESPONDENTS
Exhibit P10 TRUE COPY OF THE COMPLAINT SUBMITTED BY
THE 1ST PETITIONER SOCIETY TO THE 5TH
RESPONDENT , DATED NIL
Exhibit P11 A TRUE COPY OF THIS COMPLAINT, DATED
15.07.2025 SUBMITTED BY THE 1ST
PETITIONER SOCIETY TO THE 4TH RESPONDENT
Exhibit P12 TRUE COPY OF THE ACKNOWLEDGMENT RECEIPT
BEARING NO. 15291015-2025-5-01666, DATED
16.07.2025 ISSUED FROM 4TH RESPONDENT TO
THE 1ST PETITIONER SOCIETY
Exhibit P13 A TRUE COPY OF THE REPRESENTATION DATED
24.06.2025 SUBMITTED BY THE 1ST
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PETITIONER SOCIETY TO THE 9TH RESPONDENT
Exhibit P14 TRUE COPY OF THE REPRESENTATION
SUBMITTED BY THE 1ST PETITIONER SOCIETY
TO THE 10TH RESPONDENT, DATED 24.06.2025
Exhibit P15 TRUE COPY OF THE FIR IN CC NO. 281/2025
DATED 06.03.2025 ISSUED FROM 6TH
RESPONDENT
Exhibit P15(a) TRUE COPY OF THE FIR IN CC NO. 240/2025
DATED 03.03.2025 ISSUED FROM 7TH
RESPONDENT
Exhibit P16 TRUE COPY OF THE SOCIETY MEMBERS LIST
AND THE DETAILS SHOWING THEIR DEPOSITS
AMOUNTS AND THE DETAILS OF THE FIR
REGISTERED. AGAINST THE RESPONDENTS 12
TO 16 BY VARIOUS POLICE STATIONS
Exhibit P17 TRUE COPY OF THE PUBLIC NOTIFICATION
DATED 25.07.2025 ISSUED BY THE 11TH
RESPONDENT
