Gogineni Laxmi Narasimha Rao v. The State Of Telangana

The Hon'ble Sri Justice J.Sreenivas Rao Criminal Petition Nos.6779 & 6781 of 2025 Common Order:

These two Criminal Petitions are filed by the petitioner/accused No.22 under Sections 480 and 483 of Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) seeking regular bail in Crime Nos.11 and 12 of 2025 on the file of the Station House Officer, Economic Offences Wing (EOW) of the Cyberabad (presently with CID, TG, Hyderabad), registered for the offences punishable under Sections 318(4), 316(2) and 61(2) of the Bharatiya Nyaya Sanhita, 2023 (for short 'BNS') and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999. 2.

As the petitioner is arrayed is accused No.2 in both the crimes and as the both the crimes are registered for the very same offences, these two cases are disposed of by way of common order.

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3.

Heard Mr. T.Pradyumna Kumar Reddy, learned Senior Counsel appearing for Mr. T.Anirudh Reddy, learned counsel for the petitioner/accused No.22 and Mr. Syed Yasar Mamoon, learned Additional Public Prosecutor appearing for the respondent/State.

4.

The case of the prosecution is that the de facto complainant and others had invested significant amounts with M/s.Falcon (Capital Protection Force Private Limited & others) under an invoice discounting arrangement. These investments were made based on the company's assurances of timely payments along with 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

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same, the aforesaid crimes were registered against the petitioner and other accused for the aforesaid offences. 5.

Learned counsel for the petitioner/accused No.22 submits that the petitioner has not committed any offence and he was falsely implicated in the aforesaid crime based upon the confession statement given by the other accused. He further submits that on the very same allegations three crimes viz., Cr.Nos.10, 11 and 12 of 2025 were registered against the petitioner and others for the very same offences and the petitioner was arrested in connection with Cr.No.10 of 2025 on 05.04.2025 and as such, he filed Crl.P.No.5795 of 2025 for grant of regular bail, which was allowed on 07.05.2025. However, as the present crimes were also registered against the petitioner and other accused for the very same offences, in spite of grant of bail in Crl.P.No.5795 of 2025, the petitioner is in judicial custody since 05.04.2025 with regard to crime No.10 of 2025 and thereafter from 15.04.2025, with regard to the present crimes. Hence, he prays to grant bail to the petitioner

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as he is ready and willing to cooperate with the investigating officer for investigation and abide by the conditions that may be imposed by this Court.

6.

Per contra, learned Additional Public Prosecutor submits that the petitioner/accused No.22 has committed grave offence and the investigation is not yet completed and if the petitioner is granted bail at this stage, there is every chance of his influencing the witnesses and interfering with the investigation. Hence, he prays to dismiss this criminal petition. 7.

Having heard learned counsel for the parties and on perusal of the record, it reveals that basing on the complaints of the victims, three crimes were registered against the petitioner and others and that the petitioner was arrested on 05.04.2024 in connection with crime No.10 of 2025 and was produced on PT warrant before the concerned court in connection with the present crimes on 15.04.2025 and though bail was granted in crime No.10 of 2025, petitioner has not been released in view of the present crimes.

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8.

In view of the same, 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 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 I Additional District & Sessions Judge, Ranga Reddy District at L.B.Nagar.

(ii) On such release, the petitioner/accused No.22 shall appear before the concerned Station House Officer at 11.00 A.M., on every Sunday, for a period of eight (8) weeks or till filing of charge sheet whichever is earlier, for the purpose of investigation and thereafter, as and when required. (iii) The petitioner/accused No.22 shall abide by the conditions stipulated in Section 483 (3) of BNSS.

(iv) After release, if the petitioner/accused No.22 indulges in similar offence, the respondent/State is at liberty to file an application seeking cancellation of bail.

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8.

Accordingly, the Criminal Petition is allowed. As a sequel, miscellaneous petitions, pending if any, stand closed.

___________________ J.SREENIVAS RAO, J Date: 16.06.2025 LUR