AI Structured Summary
Not yet generated for this judgment
Judgment
Dr Venkata Jyothirmai Pratapa, J
This Criminal Petition, under Sections 480 and 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023, has been filed by the petitioner/A1, seeking regular bail, in Crime No.222 of 2025 of II Town Police Station, Visakhapatnam for the offences under Sections 420, 406, 411, 414, 120b r/w 34 IPC, Section 21(1)(2)(3), 23 of Banning of Unregulated Deposit Schemes Act, 2019 and Section 3 and 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
Case of the prosecution, in brief, is that the defacto complainant belonging to SC community and he deposited sum of Rs.50,00,000/- in Sneha Macs, which was established by the 1st accused with the slogan of Dr.Ambedkar’s idelogy (pay back to society), on believing the accused he along with five others deposited a total amount of Rs.1,73,75,000/-, while nearly 2500 depositors collectively invested around Rs.51 crores, Sneha Macs Bhaditha depositors parirakshana Sangam with 166 members deposited Rs.27 crores in Sneha Macs with the assurance of 12% interest, later they deviated depositors funds for the purchase of properties and assets and failed to repay matured deposits and thereby the accused committed the alleged offences.
Heard the learned counsel for the petitioner and Ms.K.Priyanka Lakshmi, learned Assistant Public Prosecutor.
Learned counsel for the petitioner submits that the petitioner has been in judicial custody since 03.12.2025. It appears no charge sheet is filed. The learned counsel for the petitioner further submits that the petitioner is entitled for his release on statutory bail under Section 187 of BNSS.
Learned Assistant Public Prosecutor fairly conceded that investigation is not completed, charge sheet is not filed in this matter. She would further submit that Court may pass appropriate orders by imposing stringent conditions.
Considering the submissions made and on perusal of the material on record, as rightly put by the learned counsel for the petitioner, the investigation has to be completed and charge sheet need to be filed within 60 days from the date of the judicial custody of the petitioner. In the present case though the statutory period is expired, no report has been filed by the police completing the investigation. In that view, the petitioner is entitled to be released on regular bail on the following conditions:
i. The Petitioner/Accused No.1 shall execute a personal bond for a sum of Rs. 20,000/- (Rupees Twenty Thousand only) with two sureties for a like sum each, to the satisfaction of the learned Special Judge for Trial of cases under Banning of Unregulated Deposit Scheme, 2019-cum-Principal District & Sessions Judge, Visakhapatnam.
ii. The Petitioner/Accused No.1 shall surrender his passport, if any, before the concerned Court and shall not leave India without prior permission of the said Court. If he claims that he does not have passport, he shall submit an affidavit to that effect to the Court concerned.
iii. The Petitioner/Accused No.1 shall appear before the Investigating Officer as and when required and shall cooperate with further investigation, if any.
iv. The Petitioner/Accused No.1 shall not directly or indirectly tamper with evidence nor influence, intimidate, or induce any prosecution witness.
v. The Petitioner/Accused No.1 shall not contact any of the prosecution witnesses or co-accused, except during legal proceedings.
vi. The Petitioner/Accused No.1 shall not make or publish or disseminate any information, statement, or post whether in print, electronic or social media concerning the present crime till conclusion of the trial.
vii. The Petitioner/Accused No.1 shall furnish his active mobile number to the Investigating Officer and shall be available at all times and any change shall be intimated forthwith.
viii. The Petitioner/Accused No.1 shall appear before the Station House Officer, concerned, once in a week i.e. on every Sunday between 10.00 a.m. and 04.00 p.m. until further orders.
In the event of violation of any of the above conditions, the prosecution shall be at liberty to seek cancellation of bail.
It is also made clear that the observations made in this order are only for the purpose of deciding the bail application and they shall not be construed as opinion on the merits of the Crime.
Accordingly, the Criminal Petition is allowed.
As a sequel thereto, miscellaneous petitions pending, if any, shall stand closed.