Pachipala Ganesh v. The State Of Telangana

THE HON'BLE SRI JUSTICE K.SURENDER CRIMINAL PETITION No. 8950 of 2023 ORDER:

This Criminal Petition is filed under Section 438 of Cr.P.C. by the petitioners/Accused Nos.8 and 14 seeking bail in the event of their arrest in connection with Crime.No.86 of 2023 on the file of Marriguda Police Station, Nalgonda District, registered for the offences under Sections 417, 420 and 471 r/w. 34 of IPC and Section 5 of the Telangana State Protection of Depositors and Financial Establishment Act, 2016.

2.

Heard learned counsel for the petitioners and learned Additional Public Prosecutor for the respondent-State and perused the record.

3.

A complaint was filed on 21.08.2023 by the de-facto complainant alleging that he has deposited money with 'Golden Eagle Infra Developers'. A-1 to A-7 were running the Company and it is alleged that A-8 to A-14 were the Agents of the said Company. Accused Nos. 1 to 4 were arrested and remanded to custody on 23.08.2023. In the said remand report, these petitioners are shown as accused. The allegation

is that these petitioners were Agents. However, there are no specific details of the victim from whom these petitioners have taken any investments.

4.

Since the allegation of taking amount is against the Company and its Directors, this Court deems it appropriate to grant the relief of anticipatory bail to these petitioners, subject to the following conditions:-

1) The petitioners/Accused Nos.8 and 14 are directed to surrender before the Station House Officer, Marriguda Police Station, Nalgonda District on 26.09.2023. Upon such surrender, the said Station House Officer shall release the petitioners/Accused Nos.8 and 14 on bail, on their executing personal bond for a sum of Rs.25,000/- (Rupees Twenty five Thousand only) with two sureties for a like sum each to his satisfaction.

2) On such release, the petitioners/Accused Nos.8 and 14 shall appear before the concerned Police at 10:00a.m. on every Monday and Wednesday for a period of eight weeks for the purpose of investigation and thereafter, as and when required.

3) The petitioners/Accused Nos.8 and 14 shall abide by the other conditions stipulated in Section 438(2) of Cr.P.C and shall co-operate with the Investigating Officer in investigating the case.

5.

Accordingly, the Criminal Petition is allowed.

Miscellaneous applications, if any pending in this criminal petition, shall stand closed.

__________________ K.SURENDER, J Date : 21.09.2023 dv

THE HON'BLE SRI JUSTICE K.SURENDER CRIMINAL PETITION No. 8950 of 2023 Dt.21.09.2023 dv