Money laundering case: Man seeks bail from Kerala high court

KOCHI: P Maharajan, the alleged kingpin of a multi-crore money-lending racket, has approached the Kerala high court seeking bail.
In the petition, the 41-year-old from Virugambakkam in Chennai has stated that he is a businessman and has been falsely implicated as the fifth accused in the case registered by Palluruthy police. His name does not find any place in the FIR or the complaint filed to police.
The complainant is said to have borrowed Rs 40 lakh through five bank accounts but no details of the repayment are forthcoming even as the complainant claims that he repaid the loan by making payments of Rs 2 lakh per week, the petition said.
Palluruthy police did not have the jurisdiction to conduct the investigation as the cause of action for the loan arrangement occurred in Tamil Nadu, the petitioner has claimed.
Though the high court had granted him anticipatory bail upon fulfilling conditions such as local sureties, the could not comply with the order in time. As compromise talks were held between the complainant and accused 1 to 3, he believed that the matter will be referred by police in view of the settlement, Maharajan’s petition said.
Regarding the incident at a toll, Maharajan has alleged that they were let off by the police team after taking his gold chain weighing 64gm and a bag containing Rs 2.05 lakh in cash. But it was shown in news later on that he escaped from police custody, the petition said. The court has now asked the prosecution to inform its views.