Varala Lokesh @ Varala Lokeshwar Rao v. State Of Telangana

IN THE HIGH COURT FOR THE STATE OF TELANGANA

AT HYDERABAD THE HONOURABLE SMT JUSTICE K. SUJANA CRIMINAL PETITION No.17688 OF 2025 05.01.2026 Between:

Varala Lokesh @ Varala Lokeshwar Rao ....Petitioner/A.2 State of Telangana, Rep., by its Public Prosecutor High Court for the State of Telangana, High Court Buildings, Hyderabad, Through the Station House Officer, Jagtial Town Police Station, Jagtial District ....Respondent :ORDER:

This Criminal Petition is filed under Section 480 & 483 of Bharatiya Nagarik Suraksha Sanhita, 2023 seeking grant of regular bail to the petitioner who is arrayed as accused No.2 in FIR No.631 of 2025 of Jagitial Town Police Station, Jagitial District, registered for the offences punishable under Sections 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 de-facto 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 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 for the aforementioned offences.

3.

Heard Sri Madas Bharath Chandra, learned counsel appearing on behalf of the petitioner as well as Sri Arun Kumar Doddla, learned Additional Public Prosecutor for respondent.

4.

The contention of learned counsel for the petitioner is that the petitioner is innocent of the allegations leveled against him and, that the petitioner has been in judicial custody since 15.10.2025 and that the crucial part of the investigation has already been completed. He further contended that accused No.1 was granted bail vide order dated 28.11.2025 passed in Crl.P.No.15322 of 2025.

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 the petitioner and other accused. He 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 15.10.2025. 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.2, subject to the following conditions:

i.

The petitioner-accused No.2 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 I-Additional Judicial Magistrate of First Class at Jagtial.

ii.

The petitioner-accused No.2 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.2 shall abide by the conditions stipulated in 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: 05.01.2026 Rds

THE HONOURABLE SMT JUSTICE K. SUJANA CRIMINAL PETITION No.17688 OF 2025 Date: 05.01.2026 Rds