[Cites 1, Cited by 0]
Kerala High Court
Suresh Vasudev vs State Of Kerala on 6 February, 2026
Author: Kauser Edappagath
Bench: Kauser Edappagath
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
FRIDAY, THE 6TH DAY OF FEBRUARY 2026 / 17TH MAGHA, 1947
BAIL APPL. NO. 573 OF 2026
CRIME NO.977/2025 OF PERAMANGALAM POLICE STATION, THRISSUR
AGAINST THE JUDGMENT DATED 20.11.2025 IN BAIL APPL.
NO.14053 OF 2025 OF HIGH COURT OF KERALA
PETITIONER/ACCUSED NO.3:
SURESH VASUDEV
AGED 55 YEARS
S/O VASU, MARASSARY (H),
MOOTHRATHIKKARA DESOM, PARAPPUKKARA VILLAGE,
THRISSUR, KERALA, PIN - 680310
BY ADVS.
SHRI.SARATH BABU KOTTAKKAL
SHRI.SEBASTIN
RESPONDENT/COMPLAINANT:
STATE OF KERALA
REPRESENTED BY THE PUBLIC PROSECUTOR,
HIGH COURT OFKERALA, ERNAKULAM, PIN - 682031
BY SRI.M.C. ASHI, SR. PP
THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON
06.02.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
2
ORDER
This application is filed under Section 482 of the Bharatiya
Nagarik Suraksha Sanhita, 2023 (for short, BNSS), seeking pre-arrest
bail.
2. The applicant is the accused No.3 in Crime
No.977/2025 of Peramangalam Police Station, Thrissur District. The
offence alleged is punishable under Section 420 of the Indian Penal
Code.
3. The prosecution case, in short, is that the accused
Nos. 1 to 6, being the Directors of Asphire Agro Nidhi Ltd., Urakam,
induced the de facto complainant to believe that deposits made with
the company would yield a high rate of interest. Acting upon such
inducement and false representations, the de facto complainant
deposited a total sum of ₹15,50,000/- with the company during the
period from 13.07.2022 to January 2023. Thereafter, the applicant
and the other accused persons failed to repay the deposited amount
or the assured interest and thereby cheated the de facto
complainant.
4. I have heard Sri. Sarath Babu Kottakkal, the
learned counsel for the applicant and Sri. M.C. Ashi, the learned
Senior Public Prosecutor. Perused the case diary.
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
5. The learned counsel for the applicant submitted
that the applicant is innocent and has been falsely implicated in the
above crime. The counsel further submitted that no materials are
on record to connect the applicant with the alleged crime; hence, he
is entitled to bail. The learned Public Prosecutor, on the other hand,
submitted that the alleged incident occurred as part of the
applicant's intentional criminal acts, and if he is released on bail at
this stage, it will affect the course of the investigation.
6. The applicant was an Additional Director of the
company. He resigned on 13.07.2023. The applicant was in custody
for months in connection with other crimes committed by the same
company. Considering the allegations made against the applicant,
his custodial interrogation seems unnecessary. For these reasons, I
find this to be an appropriate case to grant pre-arrest bail to the
applicant.
In the result, the application is allowed on the following
conditions:-
(i) The applicant shall be released on bail in the event
of his arrest on executing a bond for Rs.1,00,000/- (Rupees One lakh
only) with two solvent sureties for the like sum each to the
satisfaction of the arresting officer/investigating officer, as the case
may be.
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
(ii) The applicant shall fully cooperate with the
investigation, including subjecting himself to the deemed police
custody for discovery, if any, as and when demanded.
(iii) The applicant shall appear before the investigating
officer between 10.00 a.m. and 11.00 a.m. every Saturday until
further orders. He shall also appear before the investigating officer
as and when required.
(iv) The applicant shall not commit any offence of a like
nature while on bail.
(v) The applicant shall not attempt to contact any of
the prosecution witnesses, directly or through any other person, or
in any other way try to tamper with the evidence or influence any
witnesses or other persons related to the investigation.
(vi) The applicant shall not leave the State of Kerala
without the permission of the trial Court.
(vii) The application, if any, for deletion/modification of bail
conditions or cancellation of bail on the grounds of violating the bail
conditions shall be filed at the jurisdictional court.
Sd/-
DR. KAUSER EDAPPAGATH
JUDGE
SPV
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
APPENDIX OF BAIL APPL. NO. 573 OF 2026
PETITIONER'S ANNEXURES
ANNEXURE A1 THE TRUE PHOTOCOPY OF THE FIR DATED
07.10.2025 IN CRIME NO 977/2025 OF THE
PERAMANGALAM POLICE STATION, THRISSUR
ANNEXURE A2 THE TRUE PHOTOCOPY OF THE DEPOSIT RECEIPTS
ANNEXURE A3 THE TRUE PHOTOCOPY OF THE COMPANY
INFORMATION TAKEN FROM THE OFFICIAL
WEBSITE OF MINISTRY OF CORPORATE AFFAIRS
DATED 14.02.2025
ANNEXURE A4 THE TRUE PHOTOCOPY OF THE RESIGNATION E-
MAIL SENT TO THE BOARD OF DIRECTORS &
MANAGING DIRECTOR DATED 13.07.2023
ANNEXURE A5 THE TRUE PHOTOCOPY OF THE RESIGNATION
LETTER DATED 21.09.202
ANNEXURE A6 THE TRUE PHOTOCOPY OF THE POSTAL RECEIPTS
DATED 21.09.2023
ANNEXURE A7 THE TRUE PHOTOCOPY OF THE AGREEMENT DATED
25.04.2024
ANNEXURE A8 THE TRUE PHOTOCOPY OF THE ORDER DATED
17.10.2025 IN BAIL.APPL.NO 12586 OF 2025
OF THE KERALA HIGH COURT
ANNEXURE A9 THE TRUE PHOTOCOPY OF THE ORDER DATED
17.10.2025 IN BAIL.APPL.NO 12593 OF 2025
OF THE KERALA HIGH COURT
ANNEXURE A10 THE TRUE PHOTOCOPY OF THE ORDER DATED
17.10.2025 IN BAIL.APPL.NO 12583 OF 2025
OF THE KERALA HIGH COURT
ANNEXURE A11 THE TRUE PHOTOCOPY OF THE ORDER DATED
17.11.2025 IN BAIL.APPL.NO 13455 OF 2025
OF THE KERALA HIGH COURT
2026:KER:10681
BAIL APPL. NO. 573 OF 2026
ANNEXURE 12 THE TRUE PHOTOCOPY OF THE ORDER DATED
17.11.2025 IN BAIL.APPL.NO 13457 OF 2025
OF THE KERALA HIGH COURT
ANNEXURE A13 THE TRUE COPY OF THE ORDER DATED IN
BAIL.APPL.NO 14053 OF 2025
ANNEXURE 14 THE TRUE PHOTOCOPY OF THE ORDER DATED
16.01.2026 IN CRL.M.C. NO. 2137/2025 OF
THE HON'BLE III ADDITIONAL SESSIONS JUDGE,
THRISSUR
RESPONDENT'S ANNEXURES : NIL
//TRUE COPY//
PA TO JUDGE
