The Kerala High Court has granted interim bail to K.K. Abraham, former general secretary of the Kerala Pradesh Congress Committee (KPCC) and former president of Pulpally Service Cooperative Bank, Wayanad, who was arrested by the Enforcement Directorate in a money laundering case registered in the wake of irregularities in the bank.
The court passed the order recently on a bail petition filed by Abraham. According to his petition, he has been in judicial custody since November 7, 2023. The prosecution case was that Abraham and the other accused, who were the officer-bearers of the cooperative bank, had taken several loans in the names of various persons, without their consent, by overvaluing the properties offered as collateral security. They failed to repay the loan amount and thus had caused a loss of ₹5.62 crore to the bank.
‘Serious illness’
The counsel for the petitioner submitted that he was suffering from serious illness and needed expert medical treatment. The first provision to Section 45(1) of the PMLA permits a person to be released on bail, if he is sick or infirm. The court said it was satisfied that the petitioner is suffering from a serious illness and he needs immediate treatment. Therefore, petitioner is entitled to be released on interim bail for the time being, subject to the condition that he produces the medical reports issued by the doctor of his choice.
Published - August 05, 2024 06:28 pm IST
