ORDER:

This Criminal Petition is filed, under Sections 437 and 439 of the Code of Criminal Procedure, 1973, seeking to grant bail to the petitioner/A-9 herein in S.C.No.1 of 2021. on the file of the Metropolitan Sessions Judge, Hyderabad, arising out of F.No.ECIR/HyZO/21/2020 dated 17.08.2020 of the Directorate of Enforcement, Hyderabad.

The case of the prosecution is that in the year 2018, Chinese Company i.e., M/s. Beijing Tomorrow Power Company and its promoters Ling Yang, Ming Yang, Mrs. Jinling Wan and other directors Liu Yang, Yan Hao with the help of some Indian Chartered Accountants (Kumar and Patni and Draphant Consultants), floated multiple Indian Companies. Initially dummy Indian Directors were used to incorporate the companies and after some time, Chinese Nationals came don,n to India and took directorship in these companies. Some locals were hired and opened bank accounts with HSBC Bank and made accounts with online wallets nameiy Paytm, Cash-free, Razor-pay etc. These online wallets had lack of diligent mechanisms and their not reporting of suspicious transactions to the regulatory authorities helped the accused companies to iaunch PAN India operations. Once bank accoun