Justice K Ramakrishnan issued the direction on an appeal filed by the vessel owners to modify the order of the Judicial First Class Magistrate-Alappuzha imposing a condition to furnish a bank guarantee of Rs five crore to release the ship.
The court directed the police to inform the present stage of investigation within 10 days.
Two fishermen were killed on the day of the incident and three others had gone missing. Their bodies were recovered by naval divers later.
The captain of the ship was arrested from Chennai.
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