Angamaly Co-op Scam: Kerala High Court Grants Bail To 7th Accused VD Tomy
The Kerala High Court recently granted regular bail to V.D. Tomy, who is the 7th accused in the alleged case of misappropriation of ₹115.8 Crores by granting fake loans in Angamaly Co-operative Urban Society. He was arrested on 11th July and has been custody since then.Justice A. Badharudeen granted bail after noting that Tomy had no antecedents, and the investigation in the case had...
The Kerala High Court recently granted regular bail to V.D. Tomy, who is the 7th accused in the alleged case of misappropriation of ₹115.8 Crores by granting fake loans in Angamaly Co-operative Urban Society. He was arrested on 11th July and has been custody since then.
Justice A. Badharudeen granted bail after noting that Tomy had no antecedents, and the investigation in the case had progressed much. Therefore, the Court felt that no useful purpose would be served if he continues to be in custody.
One of the depositors in the Society who had lost his money impleaded himself as the 2nd respondent and opposed the bail plea.
The prosecution allegation was the members of the Managing Committee of Angamaly Urban Co-operative Society, abused their position and misappropriated a sum of Rs.55 Crores that belonged to the Society. It is alleged that the misappropriation was done with an intention to cause undue loss to the Society by sanctioning fake loans and renewal of the loans by using the same documents in the name of fake persons. During the course of investigation, it has been revealed that the total money misappropriated was to the tune of Rs.115.8 Crores.
The offences against the accused persons include those under Sections 406 [Criminal breach of trust], 408[Criminal breach of trust by clerk or servant], 417[Cheating], 465[Forgery], 467[Forgery of valuable security, will, etc.], 468[Forgery for purpose of cheating], 471[Using as genuine a forged document or electronic record], 420[Cheating and dishonestly inducing delivery of property] read with 34[Acts done by several persons in furtherance of common intention] of the Indian Penal Code as well as under Sections 13(1)(a) and 13(2) [Criminal misconduct by a public servant] of the Prevention of Corruption Act, 1988.
Earlier this month, the Court had granted bails to the 5th and 12th accused in the case.
Case No: Bail Appl. No. 9405 of 2025
Case Title: V.D. Tomy v. State of Kerala and Anr.
Citation: 2025 LiveLaw (Ker) 537
Counsel for the petitioner: Jeswin P. Varghese
Counsel for the respondents: Athul Roy, C.K. Suresh
Click To Read/Download Judgment