Kanna Vijay Bhaskar Reddy Alias Kannareddy Vijay Bhaskar Reddy v. The State Of Telangana

HON'BLE SMT. JUSTICE LALITHA KANNEGANTI CRIMINAL PETITION No. 1249 of 2022 O R D E R:

This Criminal Petition under Sections 437 and 439 Cr.P.C. is filed by petitioner - Accused No.3 seeking to grant bail to him in Crime No.215 of 2021 on the file of Central Crime Station, Hyderabad, registered for the offences punishable under Sections 406, 417, 420, 465, 468, 471 and 477 read with 34 I.P.C. and Section 66-D of the Information Technology Act, 2000. 2.

The case of the prosecution is that the Registrar of Companies, Hyderabad, lodged a report before the respondentpolice stating that accused No.2, practicing Company Secretary of 12 companies has made his family members and his employees as dummy Directors with an intention to defraud gullible investors' at large scale in connivance with A.1. A.4 is close friend of A.1. A.4 to A.7 colluded with A.1 and others, knowingly opened fake companies with the help of A.2 and after opening fake companies, petitioner herein opened three bank accounts with Yes Bank in the names of Anjanadri Information Services Pvt Ltd, Garudadri Information Services Pvt Ltd and 3) Neeladri Information Services Ltd by showing office address as his residence at Padmaraonagar, Hyderabad. On verification of bank accounts of said companies, it revealed that the accused collected approximately Rs.8.467 crores from innocent public by way of online transactions to the accounts of A12, A13.

3.

Learned counsel for the petitioner-Accused No.3 would submit that the only allegation against the petitioner-accused No.3 is that A.1 offered the petitioner-accused N.3 that he will give Rs.10,000/- per month to the Directors for each company, if opened in their names or others for which, the petitioner-accused No.3 agreed to open three companies on paper and accordingly, the petitioner-accused No.3 opened three fake companies viz., 1) Anjanadri Information Services Pvt Ltd 2) Garudadri Information Services Pvt Ltd and 3) Neeladri Information Services Pvt Ltd. The petitioner-accused No.3 was arrested on 23.12.2021 and since then he is in judicial custody. He further submitted that Accused No.2 was already granted bail by order, dated 10.02.2022 and hence, the case of the petitioner-accused No.3 may be considered for grant of bail.

4.

On the other hand, learned Assistant Public Prosecutor would submit that Accused Nos.4 to 13 are yet to be arrested and Accused No.7 is wife of the petitioner-accused No.3. He submitted that the petitioner-accused No.3 has opened three fake companies and the investigation is still pending. At this stage, if the petitioner-accused No.3 is enlarged on bail, the investigation in the in the crime will be hampered and he opposes the bail application. 5.

Taking into consideration the fact that accused No.2 was already granted bail by the trial Court and that the petitioneraccused No.3 is languishing in jail from the last 48 days, this Court deems it appropriate to grant bail to the petitioner-accused No.3, on certain conditions.

6.

The Criminal Petition is allowed. The petitioner -Accused No.3 shall be enlarged on bail in connection with Crime No. 215 of 2021 on the file of Central Crime Station, Hyderabad, on his executing a personal bond for a sum of Rs.20,000/- (Rupees twenty thousand only) with two sureties for a like sum each to the satisfaction of the XII Additional Chief Metropolitan Magistrate, Hyderabad. Further, the petitioner-accused No.3 shall appear before the Station House Officer concerned on 1st and 4th Saturday of every month between 10:00 AM and 12:00 Noon. Miscellaneous petitions, if any, pending in this petition shall stand closed.

___________________________ LALITHA KANNEGANTI, J 18th January, 2022.

YVL

HON'BLE SMT. JUSTICE LALITHA KANNEGANTI CRIMINAL PETITION No. 1249 of 2022 Date:18.02.2022 YVL