Vuyyala Srinivas v. State Of Telangana

IN THE HIGH COURT FOR THE STATE OF TELANGANA

AT HYDERABAD THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.8110 of 2026 DATE: 09.06.2026 Between:

Vuyyala Srinivas ..... Petitioner/Accused No.7 And State of Telangana, Rep. by its Public Prosecutor, Inspector of Police, Nalgonda Rural P.S., Nalgonda District, Telangana.

.....Respondent : ORDER :

This Criminal Petition is filed before this Court for grant of bail to the Petitioner who is arrayed as accused No.7 in FIR No.64 of 2025 of Nalgonda Rural Police Station, Nalgonda District, registered for the offences punishable under Sections 120(B), 409, 420 r/w 34 of the IPC and Sections 3 and 4 of Prize Chits and Money Circulation Scheme (Banning) Act and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999.

2.

The case of the prosecution is that, on 18.04.2025, the de-facto complainant lodged a report before the police stating that on 01.02.2020, the Complainant's villager, namely Kola Kushalaiah (Accused No. 11), introduced the VIPS wallet app by saying deceitful words as invest the money in the VIPS wallet and you can get 4% rate of interest for every 100 rupees in a month. Believing the same, Complainant invested Rs.15 lakhs in that company through the VIPS wallet app from February 2020 to March 2023. On which he received Rs.5 lakh as interest, but not the remaining amount from May 2025. Upon this, he questioned Accused No.11 about his money, but Accused No11 ignored the same and postponed the issue by saying he did not know about the VIPS wallet. Hence, he requested for taking necessary action. Basing on the said complaint, the police registered a case for the above said offences.

3.

Heard Sri Kalla Ramakrishna Madhava, learned counsel representing on behalf of the Petitioner as well as Sri M. Ramachandra Reddy, learned Additional Public Prosecutor appearing for the respondent -State.

4.

Learned counsel for the petitioner submitted that the petitioner, who has been arrayed as Accused No.7, is in fact a victim of the alleged transaction. It was contended that the petitioner had invested money relying upon the representations and assurances made by the other accused persons and, as a consequence, he too suffered financial loss. Learned counsel further submitted that despite being a victim of the alleged fraud, the petitioner has been implicated as Accused No.7 in the present case. He further submitted that the petitioner is in jail since 12.04.2026 and the material part of the investigation was already completed. Therefore, he prayed the Court to grant bail to him by allowing this criminal petition.

5.

On the other hand, learned Additional Public Prosecutor opposed the submissions made by the learned counsel for the petitioner stating that the allegations against the petitioner are serious in nature and it is a Bank Money Circulation Scheme and the petitioner herein also introduced other victims to invest the amount. Further, the investigation is not yet completed. Therefore, he prayed the Court to dismiss the criminal petition.

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 herein is in jail since 12.04.2026 and as seen from the remand case diary, the prosecution witnesses, LWs 1 to 34 have already been examined. Considering the facts and circumstances of the case, the nature of the allegations, the stage of investigation and the duration of incarceration, this Court finds it appropriate to grant bail to the petitioner, 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 Judicial First Class (Special Mobile) Court, at Nalgonda.

ii.

The petitioner shall appear before the concerned SHO at 11:00 a.m., on every Monday 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 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 applications, if any pending, shall stand closed.

_______________ K. SUJANA, J Date :09.06.2026 TU

THE HON'BLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.8110 OF 2026 DATE :09.06.2026 TU