Gogineni Laxmi Narasimha Rao v. The State Of Telangana

THE HONOURABLE SRI JUSTICE J. SREENIVAS RAO CRIMINAL PETITION No.5795 of 2025 ORDER:

This Criminal Petition is filed under Sections 480 and 483 of Bharatiya Nagarik Suraksha Sanhitha, 2023 (for short 'BNSS') seeking bail to petitioner/accused No.22 in Crime No.10 of 2025 on the file of the P.S. Economic Offences Wing, Cyberabad Commissionerate, registered for the offences punishable under Sections 318(4), 316(2), 61(2) of the Bharatiya Nyaya Sanhita (for short BNS) and 5 of the Telangana Protection of Depositors of Financial Establishments Act (for short TSPDFEA). 2.

The case of prosecution is that the defacto complainant and others, who are victims in the present matter, had invested significant amounts with M/s. Falcon (Capital Protection Force Pvt. Ltd. & others) under an invoice discounting arrangement. These investments were made based on the company's assurances of timely payments and interest, as outlined in the agreements executed between the parties. However, the experience of the complainants has been deeply distressing, as they believe that the

petitioner and other accused persons are involved in financial fraud, criminal breach of trust, corporate malpractice, and misappropriation of funds. Despite investing large sums, the petitioner and other accused failed to repay the prematurely requested investment amounts. Basing on the same, a case was registered in Crime No.10 of 2025.

3.

Heard Mr.T.Anirudh Reddy, learned counsel for the petitioner and Sri Arun Kumar Doddla, learned Additional Public Prosecutor for the respondent -State.

4. Learned counsel for the petitioner submitted that the petitioner has not committed any offence and he was falsely implicated in the above crime. He further submitted that initially, petitioner approached this Court and filed Criminal Petition No.3474 of 2025 for grant of anticipatory bail and when the said case came up before this Court, the Additional Public Prosecutor, based on written instructions from the Assistant Commissioner of Police, EOW Police Station, Cyberabad, informed the Court that the investigation is ongoing and, at this stage, the investigating agency does not intend to arrest the

petitioner. Recording the said submissions, the criminal petition was closed. He further submitted that the petitioner was arrested on 05.04.2025 and since then, he was in judicial custody. He further submitted that material part of the investigation is completed and the petitioner shall abide by the conditions, which are going to be imposed by this Court, and he is ready and willing to cooperate with the investigation. Hence, the petitioner may be enlarged on bail.

5. Per contra, learned Additional Public Prosecutor submitted that the petitioner has committed grave offence and the investigation is under progress and, at this stage, the petitioner is not entitled for grant of bail.

6. Having considered the rival submissions made by the respective parties and after perusal of the material available on record, it reveals that initially the petitioner approached this Court and filed Criminal Petition No.3474 of 2025 for grant of anticipatory bail. When the said case came up before this Court, the Additional Public Prosecutor, based on written instructions from the Assistant Commissioner of Police, EOW Police Station, Cyberabad,

informed the Court that the investigation is going on and, at this stage, the investigating agency does not intend to arrest the petitioner. Recording the said submissions, the criminal petition was closed. However, the petitioner was arrested on 05.04.2025. Even according to the learned counsel for the petitioner, accused Nos.9 and 10 were enlarged on bail. According to the learned Additional Public Prosecutor, fourteen witnesses were already examined and the petitioner is not having any criminal antecedents.

7. Taking into consideration the above said facts and circumstances of the case and considering the incarceration period, this Court is inclined to grant bail to the petitioner/accused No.22 subject to the following conditions:

(i) The petitioner/accused No.22 shall be released on bail on executing a personal bond for a sum of Rs.50,000/-(Rupees fifty thousand only) with two sureties for a like sum each to the satisfaction of the I Additional District and Sessions Judge, Ranga Reddy District at L.B.Nagar.

(ii) After release, the petitioner/accused No.22 shall appear before the concerned S.H.O. at 11.00 a.m. on every Sunday for a period of eight (8) weeks or

till filing of the charge sheet, whichever is earlier, for the purpose of investigation, and thereafter, as and when required.

(iii) After release, if the petitioner/accused No.22 is indulges in similar offence, the respondent-State is entitled to file an application seeking cancellation of the bail granted by this Court in his favour.

(iv) The petitioner/accused No.22 shall abide by the other conditions stipulated in Section 437(3) of Cr.P.C., presently Section 480(3) of BNSS and shall cooperate with the investigation.

8. Accordingly, the Criminal Petition is allowed. ____________________ J. SREENIVAS RAO, J Date: 07.05.2025 sa

THE HONOURABLE SRI JUSTICE J. SREENIVAS RAO CRIMINAL PETITION No.5795 of 2025 Dt: 07-05-2025 sa