The court upheld the refusal to allow travel abroad due to ongoing investigations and potential harm to co-accused's rights.

ORDER:

Aggrieved by the order, dated 29.09.2023 passed in Crl.M.P.No.2248 of 2023 in F.No.ECIR/HYZO/11/2021 on the file of the Metropolitan Sessions Judge, Cyberabad, Ranga Reddy District at L.B.Nagar, the petitioner/accused No.1 filed the present Criminal Petition under Section 439 (2) or Cr.P.C.

2. Brief facts of the case are that the Enforcement Directorate had initiated proceedings against the petitioner and others under the provisions of the Prevention of Money Laundering Act, 2002 and the Rules made thereunder vide F.No.ECIR/HYZO/11/2021 alleging that the petitioner, along with others, have conducted meetings/seminars all over India at various hotel/resorts and attracted and motivated the innocent people with their Ponzi Schemes and Binary Schemes and collected huge amount of Rs.1500.00 Crores as investment and thereafter, accused No.1 did not pay any commissions nor refunded the invested amount back to the innocent people. Pending investigation in the said crime, the petitioner filed Crl.M.P.No.2248 of 2023 seeking permission to go abroad. By an order, dated 29.09.2023, the learned Metropolitan Sessions Judge, Cyberabad, Ranga Reddy District at L.B.Nagar, dismissed the said application. Challenging the same, the present Criminal Petition came to be filed.

3. Heard Sri K.B.Narsimhulu, learned counsel for the petitioner and Ms.Bokaro Sapna Reddy, learned Standing Counsel for Enforcement Directorate, appearing for the respondent-State and perused the material available on record. 4. Learned counsel for the petitioner would submit that the petitioner was granted regular bail in Crl.P.No.9777 of 2021, dated 07.02.2022 subject to certain conditions and he had complied with all the conditions. Learned counsel for the petitioner would further submit that the petitioner had got extraordinary achievements relating to his business from countries like India, USA and Sri Lanka and he has got unblemished record all through. He would further submit that on previous occasion this Court also permitted the petitioner to travel abroad and accordingly, he travelled to abroad and had not misused the liberty granted to him. In all fairness to establish his bonafides, the petitioner had deposited his passport in C.C.No.5 of 2021 on the file of the I Additional Senior Civil Judge, Ranga Reddy District at L.B.Nagar as per the conditions imposed by this Court. He would further submit that the petitioner having established his bonafides by fulfilling all the conditions imposed by this Court while granting bail and also permitting him to travel abroad and since the investigation is pending since long time, the petitioner ought to have granted permission to travel abroad and impugned order rejecting the petitioner’s application is perverse, thereby he will loose prospective business and curtailing his rights to profess his business. He would further submit that the petitioner would undertake that he shall cooperate with the investigating authority as and when required and therefore, prayed to allow this Criminal Petition.

5. Ms.Bokaro Sapna Reddy, learned Standing Counsel appearing for the respondent would submit that the case registered against the petitioner is very grave in nature and serious economic offence effecting the economic prospects of the Country and also damaging the reputation of Country. She would further submit that the petitioner is the prime accused in a financial fraud case involving an amount of Rs.1,433.00 Crores and if the petitioner is permitted to travel abroad would ultimately hamper the investigation and prays to dismiss this Criminal Petition.

6. Having considered the rival