Sridhar Alias Sridhar Shivanankarigowda v. The State Telangana

IN THE HIGH COURT FOR THE STATE OF TELANGANA

AT HYDERABAD THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.17992 of 2025 DATE: 07.01.2026 BETWEEN:

Sridhar alias Sridhar Shivanankarigowda .....petitioner/accused No.3 And The State of Telangana, Rep. by Public Prosecutor, High Court for the State of Telangana, at Hyderabad.

.....Respondent/complainant

ORDER

This Criminal Petition is filed praying this Court to enlarge the petitioner, on bail, who is arrayed as accused No.3 in Crime No.24 of 2025 of CCPS Nizamabad, TSCSB Police

Station, Nizamabad, registered for the offence punishable under Sections 318(4) of BNS and Section 66D of IT Act-2008. 2.

The brief facts of the case are that the de facto complainant's uncle, while working in Kuwait, was allegedly induced by unknown persons through Facebook, Telegram, and WhatsApp to invest in an online trading platform on the assurance of high returns. Believing the representations made by the accused persons, the victim transferred various amounts through multiple bank accounts belonging to the complainant, his family members, a friend, and his own accounts, resulting in a total alleged loss of Rs.36,80,000/-. When attempts were made to withdraw the displayed profits, further amounts were demanded towards tax and fees, and thereafter the accused persons blocked all communication. 3.

Heard Sri Pulpati Srihari, learned counsel appearing on behalf of the petitioner as well as Sri D.Arun Kumar, learned Additional Public Prosecutor appearing on behalf of the respondent - State.

4.

Learned counsel for the petitioner submitted that the petitioner had already been arrested and was in judicial

custody, though the entire case rested on documentary and electronic evidence which was already secured by the Investigating Agency. He further submitted that the grounds of arrest were not served on the petitioner in violation of the mandatory provisions of law, vitiating the arrest itself and that the petitioner's role was not clearly established, the investigation was substantially completed. Therefore, he prayed the Court to grant bail to the petitioner 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 leveled against the petitioner are serious in nature. Further, the investigation was not yet completed and there are number of victims in the hands of the petitioner. Therefore, at this stage, granting of pre-arrest bail to the petitioner does not arise. Hence, he prayed the Court to dismiss the criminal petition. 6.

In the light of the submissions made by both the learned counsel and a perusal of the material available on record, it appears that the petitioner is in jail since 30.10.2025. As seen from the record, the material part of the

investigation has been completed and L.Ws.1 to 13 witnesses have been examined.

Considering the facts and circumstances of the case and the incarceration period of the petitioner, this Court deems it fit 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) each, with two sureties for a like sum each to the satisfaction of the learned IV Additional Judicial Magistrate of First Class/Trial of Cases under Telangana Prohibition and Excise Court, Nizamabad District.

ii.

The petitioner 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 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: 07.01.2026 SAI

THE HONOURABLE SMT JUSTICE K. SUJANA CRIMINAL PETITION No.17992 of 2025 Date: 07.01.2026 SAI