Anticipatory bail was denied as the petitioner was a prime suspect in a financial fraud scheme, supported by substantial evidence and ongoing investigations.

ORDER :

J.SREENIVASRAO, J.

This Criminal Petition is filed under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (for short, ‘ BNS S ’) by the petitioner, seeking anticipatory bail in Crime No.21 of 2025 of Central Crime Station, DD, Hyderabad, registered for the offence punishable under Sections 316 (2), 318(4) of BNS and Section 5 of the TELANGANA PROTECTION OF DEPOSITORS OF FINANCIAL ESTABLISHMENTS ACT , 1999 (for short ‘TSPDFEA’).

2.1 The case of prosecution in brief is that on 19.02.2025 Dr. Revanth Jaiswal lodged a complaint with the police stating that Mr. A.M.Naveen Kumar, S/o Late A.P.Mallesha, R/o Basheerbagh, Hyderabad was his classmate and schoolmate. They reconnected through a Whats App group of their schoolmates on 02.12.2014. Since 2015, a few schoolmates from the group, including Mr. A.M.Naveen Kumar, regularly visited the complainant's residence. During these interactions, Mr.A.M.Naveen Kumar claimed to be engaged in the bulk business of gifts and novelties, supplying products to multinational companies and handling branding activities, promising high returns with lesser investment. He also informed that he had other businesses, including real estate. On 08.11.2022, Mr. A.M.Naveen Kumar induced the complainant to invest money in his business by offering huge profits. Believing him as a former schoolmate, the complainant initially invested Rs.50,000/- through a bank. On 13.12.2022, Mr.A.M.Naveen Kumar reported Rs.30,000/- profit, of which he paid Rs.18,000/- as per their agreed 60:40 profit-sharing ratio.

2.2 In 2023, Mr.A.M.Naveen Kumar presented a labour license dated 13.01.2023, reinforcing to believe that he is doing clear business. Subsequently, he showed bills, quotations, and work orders from various firms and requested further investments, offering huge profits. Between 2023 and early 2024, he accepted multiple small investments, returning minor profits and insisting on reinvestment. He also provided documents such as a business registration certificate, purchase orders for Rainbow Children Medicare Limited, and tax invoices. Mr.A.M.Naveen Kumar was introduced to several friends and relatives of the complainant, who visited his house on different occasions. He took advantage of this and convinced them that he was making good profits, encouraging them to invest by promising high returns. From April 2024 onwards, the amount of money invested by the complainant and his friends and relatives increased significantly. Many of them transferred money to Mr.A.M.Naveen Kumar through Dr.Jaiswal. The total amount invested reached Rs.9.65 crores, but Mr.A.M.Naveen Kumar returned only a small portion, approximately Rs. 1.60 crores.

2.3 The complainant invested a large amount of money by selling a house worth Rs.1.75 crores, which was in the name of his mother and her sister. He also sold another plot in his name for Rs. 1.67 crores. Additionally, he pledged gold in February 2024 for Rs.90 lakhs and took personal loans amounting to Rs.70 lakhs. This total amount was originally meant for investment in an upcoming hospital. However, Mr.A.M.Naveen Kumar convinced him to invest in his business, promising high returns within a few months. Initially, Mr.A.M.Naveen Kumar returned small amount but avoided repaying larger sums. Even those petty amounts he made them to re- invest in his business. However, suspecting his activities, they enquired into the matter and learnt that all his activities are shabby and orally floated firm without any physical existence of the firm. From January 2025, when repeated requests were made for repayment, Mr.A.M.