Andhra Pradesh High Court - Amravati
Budumuru Krishna Rao Dr.Krishna Rao vs The State Of Andhra Pradesh on 5 January, 2023
Author: K. Sreenivasa Reddy
Bench: K. Sreenivasa Reddy
THE HON'BLE SRI JUSTICE K. SREENIVASA REDDY
CRIMINAL PETITION NO.10623 OF 2022
ORDER:-
This Criminal Petition, under Sections 437 and 439 of the Code of Criminal Procedure, 1973 ('CrPC'), is filed by petitioner, who is A.17 in crime No.51 of 2022 of Cyber Crime Station, NTR district, seeking regular bail.
2. A case has been registered against the petitioner and others for the offences punishable under Sections 420, 120B IPC and 4 and 5 of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978 and 4 and 5 of the Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999, and 66 of the Information Technology Act, 2000.
3. The allegations, in brief, are that A.2 got registered A.1 firm under the name and style 'Sankalpmart' through his software person by name Rompicherla Vijaya Rama Seshacharyulu in the Website and created I.P. address, designed programme for learning members into 10 levels inviting deposits offering higher income on their investments and collected deposits from several customers. 2 Later, A.1 and A.2, with the deposits of the customers, purchased properties in various places. Petitioner/A.17 initially joined as member in A.1 company and got huge returns and induced so many customers and got deposited money in faviour schemes. Petitioner attended several meetings of the company and in criminal conspiracy with other accused, induced innocent public in joining as members in various schemes of the company and collected huge deposits. It is further alleged that the petitioner is an active member in the team of A.2 and knew about the fraudulent schemes introduced by A.2 and misappropriated the deposits of the customers in conspiracy with A.2.
3. Heard and perused the record.
4. Petitioner is a depositor. It is alleged that he allegedly deposited amount of Rs.45.00 lakhs and got back the amount on maturity. Thereafter, as per the instructions of the management, he made 10 members to join in the said group. They did not receive the amounts from the management of the company. In respect of the same, the subject crime has been registered against the 3 petitioner and others. The petitioner was arrested on 05.12.2022 and remanded to judicial custody on 06.12.2022. Since then, he is languishing in jail. Further detaining the petitioner in jail would not improve the case of the prosecution. Considering the facts and circumstances of the case, this Court is inclined to consider the request of the petitioner for grant of bail.
5. Accordingly, the petitioner shall be released on bail on his executing a personal bond for a sum of Rs.25,000/- with two sureties for the like sum each, to the satisfaction of the Special Judge for trial of APPDFE Act Cases-cum-Metropolitan Sessions Judge, Vijayawada. The petitioner shall co-operate with the investigation and shall attend before the Station House Officer everyday between 10.00 AM and 1.00 PM till filing of the charge sheet.
6. The Criminal Petition is allowed.
___________________________________ JUSTICE K. SREENIVASA REDDY 05.01.2023 Issue CC today.
BO/DRK 4 THE HON'BLE SRI JUSTICE K. SREENIVASA REDDY CRIMINAL PETITION NO.10623 OF 2022 5.1.2023 DRK