Bhukya Sridhar Nayak, v. The State Of Telangana,

IN THE HIGH COURT FOR THE STATE OF TELANGANA AT

HYDERABAD THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.6695 of 2025 DATE: 30.04.2026 Between:

Bhukya Sridhar Nayak.

.... Petitioner/A2 AND The State of Telangana, Rep. by its Public Prosecutor, High Court for the State of Telangana, Hyderabad, Through, P.S.Central Crime Station, Khamma.

.... Respondent/Complainant

O R D E R

This Criminal Petition is filed under Section 480 & 483 of Bharatiya Nagarik Suraksha Sanhita, 2023 (for short 'BNSS') by the petitioner/accused No.2 seeking him enlargement on bail in connection with Crime No.01 of 2026 of Central Crime Police Station, Khammam District. The offences alleged against the petitioners are under Sections 318(4) r/w 3 (5) of the Bharatiya

- 2 - Nyaya Sanhita, 2023 (BNS), Section 5 TSPDFEA and Section 66-D ITA Act, 2008.

2.

Brief facts of the case are that the de-facto complainant lodged a report before the Police on 03.02.2026 at 21:00 hours stating that the accused persons approached him and induced him by false and deceitful representations that by joining BotBro Forex Trading Company he would earn high returns with minimal effort. Believing their representations, the complainant invested an amount of Rs.4,30,000/- in BotBro. The accused persons created an ID in his name and initially he received profits for about three months. Thereafter, the withdrawal facility was stopped and he was unable to withdraw his amount. Later, he came to know that he had been cheated by the accused persons who had fraudulently collected deposits in the name of BotBro. Hence, the complainant requested for necessary action. Based on the said report, the police registered a case against the accused persons for the alleged offences. 3.

Heard Sri Srinivas Pendota, learned counsel appearing for the petitioner and Sri M.Ramachandra Reddy, learned Additional Public Prosecutor, appearing for the respondent-State.

- 3 - 4.

The contention of the learned counsel for the petitioner is that the petitioner is nowhere connected with the said website and that it is only a representative company and he is not an employee of the said company. It is further contended that the petitioner has been falsely implicated in the present case. It is also submitted that earlier also, similar allegations were made and an FIR was registered in Crime No.57 of 2026 in which the petitioner was remanded to judicial custody on 07.02.2026. Subsequently, on 21.04.2026, the petitioner was granted conditional bail. It is further submitted that the major part of the investigation has already been completed. Therefore, he prayed the Court to grant bail to the petitioner. 5.

On the other hand, the learned Additional Public Prosecutor opposed the submissions made by the learned counsel for the petitioner, contending that there are serious financial allegations against the petitioner and that along with the other accused and he conspired to cheat and misappropriate the amounts. It is further contended that the investigation is at initial stage. Therefore, he prayed the Court to dismiss the Criminal Petition.

- 4 - 6.

In the light of the submissions made by both the learned counsel and upon perusal of the material available on record, it appears that the petitioner is in judicial custody since 07.02.2026. Crime No.01 of 2026 and Crime No.57 of 2026 are both registered with similar allegations. Considering the facts and circumstances of the case and the period of incarceration of the petitioner, this Court is of the view that the petitioner is entitled to be released on bail. Accordingly, the Criminal Petition is allowed and the petitioner is granted bail, subject to the following conditions:

i.

The petitioner shall execute a personal bond for a sum of Rs.25,000/- (Rupees Twenty Five Thousand only), with two sureties for a like sum each to the satisfaction of the learned Principal Judicial First Class Magistrate at Khammam.

ii.

The petitioner shall appear before the concerned SHO at 11:00 a.m., on every Monday for a period of eight (8) week or till filing of charge sheet whichever is earlier, for the purpose of investigation, and thereafter, as and when required.

- 5 - iii.

The petitioner shall abide by the conditions stipulated in Section 437(3) of Cr.P.C. (presently, Section 480(3) of the BNSS).

7.

Accordingly, the Criminal petition is allowed. Miscellaneous petitions, if any, pending shall stand closed.

_______________ K. SUJANA, J Date: 30.04.2026 fm

- 6 - THE HON'BLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.6695 OF 2026 DATE : 30.04.2026 fm