Kasturi Shyam Sunder, v. The State Of Telangana,

THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.14429 OF 2025 ORDER :

This criminal petition is filed under Section 480 & 483 of Bharatiya Nagarik Suraksha Sanhita, 2023 (for short 'BNSS') by the petitioner/Accused No.4 seeking enlargement on bail in connection with Crime No.631 of 2025 of Jagtial Town Police Station, Jagtial District. The offences alleged against the petitioner are under Sections 61(2), 316(2), 318(4), 351(2) read with 3(5) of Bharatiya Nyaya Sanhita, 2023, Section 5 of Telangana Protection of Depositors of Financial Establishments Act - 1999 and Sections 3 and 4 of Prize Chits and Money Circulation Scheme (Banning Act 1978).

2.

The brief facts of the case are that, on 10.10.2025, the defacto complainant, lodged a report with the police stating that the petitioner, along with other accused persons, had induced the complainant and several other victims to invest substantial amounts of money in the company operated by Accused Nos.1 to 3. The investments were made under the guise of receiving high returns through crypto currency. However, after collecting the funds, Accused Nos.1 to 3 became untraceable and failed to

- 2 - provide any returns or communicate with the complainant and other investors. The complainant asserted that they had been cheated by the accused and prayed for necessary action. Based on this complaint, the police registered a case against the petitioner and the other accused persons for the aforementioned offences.

3.

Heard Sri T. P. Acharya, learned counsel for the petitioner and Sri D.Arun Kumar, learned Additional Public Prosecutor appearing for the respondent-State.

4.

The contention of learned counsel for the petitioner is that the petitioner is innocent of the allegations leveled against him and, in fact, he too had transferred money to Accused Nos.1 to

3. He further contented that the petitioner has been in judicial custody since 13.10.2025 and that the crucial part of the investigation has already been completed. Therefore, prayed this 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 the allegations against the petitioner are severe in nature, involving multiple victims who have been defrauded by Accused Nos.1 to 4. He

- 3 - further submitted that the recovery of the defrauded amounts is still pending and the investigation is ongoing. Therefore, prayed the Court to dismiss the criminal petition.

6.

In light of the submissions made by both the learned counsel and upon a perusal of the material available on record, it is evident that the petitioner has been in judicial custody since 13.10.2025. Furthermore, the account statement filed by the learned Additional Public Prosecutor indicates that the funds in question were transferred solely to the accounts of Accused Nos.1 to 3. As recorded in the remand case diary, prosecution witnesses LWs.1 to 12, including the investigating officer, have already been examined. Considering the overall facts and circumstances of the case, including 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-accused No.4, subject to the following conditions: i.

The petitioner-accused No.4 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

- 4 - learned I Additional Judicial Magistrate of First Class at Jagitial.

ii.

The petitioner-accused No.4 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.

iii.

The petitioner-accused No.4 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: 14.11.2025 SS

- 5 - THE HON'BLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.14429 OF 2025 DATE :14.11.2025 SS