Kerala High Court Dismisses Petition in ₹35 Lakh Financial Fraud Case

The Kerala High Court recently dismissed a petition from several accused, including noted mentalist Adarsh Kolladath, aimed at quashing the first information report (FIR) registered at the Ernakulam Central police station. The case involves allegations of financial fraud amounting to ₹35 lakh.

The accused include Mr. Kolladath, film director Jis Joy, and co-producers Midhun and Arun. They are implicated in a situation where a 56-year-old resident of Marine Drive, Kochi, claims to have been cheated out of his investment in Kolladath’s mentalism show, titled ‘Insomnia’. Mr. Joy served as the director for this show.

The petitioners argued that the matter at hand had already been settled between them and the complainant. However, the complainant informed the court that he was unwilling to reach a settlement, thereby prompting the court’s further scrutiny.

Allegations suggest that the accused had promised a significant profit—one-third—on any investments made in the mentalism show. According to the FIR, the complainant transferred funds totaling ₹35 lakh to Mr. Kolladath in July 2025, utilizing both his and his wife’s bank accounts. When the complainant subsequently requested the return of his investment, the accused reportedly refused and even derided him.

In its ruling, the court emphasized that the petitioners may pursue other legal remedies to address the grievances raised, shaping the next steps in this ongoing legal battle.