JUDGMENT

(Prayer: Criminal Original petition filed under Section 482 of the Code of Criminal Procedure, to set aside the order dated 28.06.2023 passed in Crl.MP.No.2402 of 2023 in C.C.No.07 of 2022, on the file of Special Court under TNPID Act, 1997, Chennai and to release the petitioner on bail pending investigation.)

This petition has been filed challenging the order passed by the Special Judge under Tamil Nadu Protection of Interest of Depositors (in Financial Establishments) Act, 1997 (for brevity referred to as ‘special Judge-) in Criminal M.P.No.2402 of 2023, dated 28.06.2023, dismissing the application filed by the petitioner under Section 167(2) of Cr.P.C. seeking for statutory bail.

2. The respondent conducted an investigation in Crime No.16 of 2022 for various offences under the IPC, TANPID Act and Banning of Unregulated Deposit Schemes Act, 2019 (for brevity referred to as -BUDS Act-). The investigation was completed and the final report was filed on 29.12.2022 against 19 named accused persons and the final report was taken on file by the Special Judge in C.C.No.7 of 2022 as against 19 accused persons for various offences under IPC, TANPID Act and BUDS Act.

3. The respondent