[Cites 4, Cited by 0]
Kerala High Court
Chemmannur Nidhi Ltd vs State Of Kerala on 23 February, 2026
Author: Kauser Edappagath
Bench: Kauser Edappagath
2026:KER:16146
BAIL APPL. NO. 893 OF 2026
1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
MONDAY, THE 23RD DAY OF FEBRUARY 2026 / 4TH PHALGUNA, 1947
BAIL APPL. NO. 893 OF 2026
CRIME NO.1087/2025 OF Town East Police Station, Thrissur
PETITIONERS:
1 CHEMMANNUR NIDHI LTD.,
AMBIKA ARCADE, THRISSUR, REP BY MANAGING DIRECTOR,
JAISON CHEMMANNUR, AGED 55 YEARS, S/O THOMAS,
CHEMMANNUR HOUSE, EO. PERAKAM, CHAVAKKAD TALUK,
THRISSUR DISTRICT, PIN - 680506
2 JAISON CHEMMANNUR
AGED 55 YEARS
S/O THOMAS, CHEMMANNUR HOUSE, EO. PERAKAM,
CHAVAKKAD TALUK, THRISSUR DISTRICT, PIN - 680506
3 ABILASH,
AGED 47 YEARS
S/O PUZHKARAN, KANDARASSERY VEEDU, MANATHALA,BABY
ROAD, CHAVAKKAD TALUK, THRISSUR DISTRICT, PIN -
680516
4 SABITHA,
AGED 33 YEARS
W/O ABILASH, KANDARASSERY VEEDU, MANATHALA, BABY
ROAD, CHAVAKKAD TALUK, THRISSUR DISTRICT, PIN -
680516
BY ADVS.
SRI.RAJIT
SMT.SRUTHI RAJIT
RESPONDENT:
2026:KER:16146
BAIL APPL. NO. 893 OF 2026
2
STATE OF KERALA,
REPRESENTED BY PUBLIC PROSECUTOR HIGH COURT OF
KERALA AT ERNAKULAM, PIN - 682031
SRI M C ASHI(SR PP)
THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON
23.02.2026, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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BAIL APPL. NO. 893 OF 2026
3
ORDER
This application is filed under Section 482 of the Bharatiya
Nagarik Suraksha Sanhita, 2023 (for short, BNSS), seeking pre-
arrest bail.
2. The applicants are the accused Nos. 1 to 4 in
Crime No.1087/2025 of Town East Police Station, Thrissur
District. The offences alleged are punishable under Section 3 r/w
21 and Section 5 r/w 23 of the Banning of Unregulated Deposit
Schemes Act, 2019 and Sections 406 and 420 of the IPC
3. The prosecution case, in short, is that accused
No. 2 who is the managing director and accused Nos. 3 and 4 who
are the directors of accused No.1"M/s. Chemmannoor Nidhi Ltd"
in violation of the provisions of the BUDS Act, collected Crores of
rupees and gold from several persons including 4 sovereigns and
1 lakh rupees from the defacto complainant on behalf of the firm
by fraudulently and dishonestly inducing them and by making
them believe that the amount would be returned with high rate of
interest and other benefits. Thus the accused are said to have
committed the above offences.
4. I have heard Sri. Rajit, the learned counsel for
the applicants and Sri. M.C Ashi, the learned Senior Public
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BAIL APPL. NO. 893 OF 2026
Prosecutor. Perused the case diary.
5. The learned counsel for the applicants submitted
that the applicants are innocent and have been falsely implicated
in the above crime. The counsel further submitted that no
materials are on record to connect the applicants with the alleged
crime; hence, they are entitled to get bail. The learned Senior
Public Prosecutor, on the other hand, submitted that the alleged
incident occurred as a part of the intentional criminal acts of the
applicants, and if they are released on bail at this stage, it will
affect the course of the investigation.
6. There are altogether 72 cases registered against the
applicants with similar allegations lodged by other depositors
with a leading case as Crime No.1302/2022 of Town East Police
Station, alleging the same offences under Sections 3 r/w 21 (1)(2)
(3) and 5 r/w 23 of the Banning of Unregulated Deposit Schemes
Act, 2019 and sections 406 and 420 of the IPC. In all the 72 cases,
the final reports have been filed and the applicants have been
enlarged on regular bail by the Sessions Court. It is thereafter the
present crime has been registered with the same set of
allegations and alleging the same offences. In this circumstances,
I am of the view that the custodial interrogation of the applicants
2026:KER:16146
BAIL APPL. NO. 893 OF 2026
is not necessary. For these reasons, I find this to be an
appropriate case to grant pre-arrest bail to the applicants.
In the result, the application is allowed on the following
conditions:-
(i) The applicants shall be released on bail in the
event of their arrest on executing a bond for Rs.1,00,000/-
(Rupees One lakh only) each with two solvent sureties for the like
sum each to the satisfaction of the arresting officer/investigating
officer, as the case may be.
(ii) The applicants shall fully cooperate with the
investigation, including subjecting themselves to the deemed
police custody for discovery, if any, as and when demanded.
(iii) The applicants shall appear before the
investigating officer between 10.00 a.m. and 11.00 a.m. every
Saturday until further orders. They shall also appear before the
investigating officer as and when required.
(iv) The applicants shall not commit any offence of a
like nature while on bail.
(v) The applicants 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
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BAIL APPL. NO. 893 OF 2026
influence any witnesses or other persons related to the
investigation.
(vi) The applicants 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
SJ
2026:KER:16146
BAIL APPL. NO. 893 OF 2026
APPENDIX OF BAIL APPL. NO. 893 OF 2026
PETITIONER ANNEXURES
Annexure-1 A TRUE COPY OF THE COMMON ORDER IN
CRL.M.P 1806/2024 IN CRIME 1281/2023,
CRL.M.P 1807/2024 IN CRIME 1285/2023,
CRL.M.P 1808/2024 IN CRIME 1288/2023,
CRL.M.P 1809/2024 IN CRIME 1289/2023,
CRL.M.P 1810/2024 IN CRIME 1290/2023,
CRL.M.P 1811/2024 IN CRIME 1299/2023 OF
THRISSUR TOWN EAST POLICE STATION FILED
BY PETITIONERS 1 & 2 BEFORE THE 3RD
ADDITIONAL SESSIONS JUDGE DATED
28.02.2024
Annexure-2 A TRUE COPY OF THE COMMON ORDER IN
CRL.M.P 2151/2024 IN CRIME 570/2023,
CRL.M.P 2152/2024 IN CRIME 572/2023,
CRL.M.P 2153/2024 IN CRIME
576/2023,CRL.M.P 2154/2024 IN CRIME
581/2023,CRL.M.P 2155/2024 IN CRIME
586/2023,CRL.M.P 2156/2024 IN CRIME
592/2023, CRL.M.P 2157/2024 IN CRIME
600/2023, CRL.M.P 2182/2024 IN CRIME
585/2023 OF THE GURUVAYUR POLICE STATION
FILED BY THE 2ND PETITIONER BEFORE THE
3RD ADDITIONAL SESSIONS JUDGE DATED
06.03.2024
Annexure-3 A TRUE COPY OF THE COMMON ORDER IN CRL.MP
2419/2-24 IN CRIME NO. 562/2022, CRL.MP
2420/2024 IN CRIME NO.561/2023 OF
GURUVAYUR POLICE STATION AND CRL.M.P
2370/2024 IN CRIME 757/2023 CRL.M.P
2371/2024 IN CRIME 758/2023,CRL.M.P
2372/2024 IN CRIME 893/2023,CRL.M.P
2373/2024 IN CRIME 895/2023,CRL.M.P
2374/2024 IN CRIME 905/2023,CRL.M.P
2375/2024 IN CRIME 906/2023,CRL.M.P
2376/2024 IN CRIME 908/2023, CRL.M.P
2377/2024 IN CRIME 915/2023,CRL.M.P
2378/2024 IN CRIME 1616/2023,CRL.M.P
2379/2024 IN CRIME 2341/2023 OF THRISSUR
TOWN EAST POLICE STATION FILED BY THE
PETITIONERS 1&2 BEFORE THE 3RD ADDITIONAL
SESSIONS JUDGE DATED 18.03.2024
Annexure-4 A TRUE COPY OF THE BAIL OBJECTION DATED
2026:KER:16146
BAIL APPL. NO. 893 OF 2026
20.01.2026 FILED BY THE PROSECUTOR IN B.A
75/2026 ARISING FROM CRIME NO. 1087/2025
OF TOWN EAST POLICE STATION THRISSUR
Annexure-5 A TRUE COPY OF THE BAIL OBJECTION DATED
20.01.2026 FILED BY THE PROSECUTOR IN B.A
113/2026 ARISING FROM CRIME NO. 1087/2025
OF TOWN EAST POLICE STATION THRISSUR
Annexure-6 A TRUE COPY OF THE COMMON ORDER IN BA
75/2025 & B.A 113/2026 ARISING FROM
CRIME.NO.1087/2025 OF TOWN EAST POLICE
STATION, THRISSUR OF THE 3RD ADDITIONAL
SESSIONS JUDGE DATED 05.02.2026
