THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.13597 OF 2025

ORDER :

This criminal petition is filed under Section 482 of Bharatiya Nagarik Suraksha Sanhita, 2023 by the petitioner seeking anticipatory bail in connection with Crime No.43 of 2025 of EOW Police Station, Cyberabad. The offences alleged against the petitioner are under Sections 318(4), 319(2), 316(2), 316(5), 336, 338, 340(2) and 61(2) of Bharatiya Nyaya Sanhita, 2023 and Sections 43, r/w.66, 66C and 66D of Information Technology Act and Section 5 of the Telangana Protection of Depositors and Financial Establishment Act, 1999.

2. The facts of the case are that on 29.07.2025 at 1700 hours, a petition was received from the complainant-Bura Gowri Shankar, through the DCP, EOW, Cyberabad. He alleged that he and many others were victims of a large-scale financial fraud orchestrated by Gaddam Venkata Rao (who falsely claimed to be Director of M/s IIT Capital Technologies) and Gaddam Venu Gopal (who posed as Proprietor of M/s A.V. Solutions), along with their associates. Between March 2023 and July 2025, the accused ran a Ponzi scheme disguised as AI-based investment platforms, using fake websites, forged SEBI and stock exchange registrations, and fabricated certificates to gain public trust. They conducted seminars across multiple cities, falsely promising 7% monthly returns through non-existent AI stock prediction software. The complainant invested Rs.23 lakhs but received only Rs.3 lakhs, incurring a loss of Rs.20 lakhs. Investigations revealed that over 100 victims lost several crores, with 17 known victims losing Rs.5 crores collectively. The accused used multiple bank accounts to collect funds and diverted them for personal use, including property, gold, and luxury purchases through benami transactions. It is further alleged that in the statement of Gaddam Venkata Rao dated 30.06.2025, he admitted diverting Rs.20 crores—Rs.10 crores to Atmakur Sujandeep and Rs.10 crores to Dr. Khame Singh through fake software deals. They created false documents, destroyed digital evidence, shut down websites, and threatened victims to avoid detection. It was also found that the accused continued similar fraudulent activities under a new entity, Srivas Analytical India Pvt. Ltd., through the website tradeonnumbers.com. As such, complainant requested to take necessary action against the accused basing on which the police registered the case against the accused for the above offences.

3. Heard Sri A. Venkata Ramaiah, learned counsel for the petitioner and Sri D.Arun Kumar, learned Additional Public Prosecutor appearing for the respondent-State.

4. The learned counsel for the petitioner submitted that the main allegations in this case are against Accused Nos. 1 to 3, who had allegedly engaged in unfair trade practices and committed fraud by misappropriating investors' funds for personal use. A notice under Sections 94 and 179 of the BNSS was issued to the petitioner, which was challenged in W.P. No. 30576 of 2025. After filing of the writ petition, the police submitted a memo before the I-Additional District & Sessions Judge, Ranga Reddy, seeking to add the petitioner as Accused No.4 and requested permission for his arrest and custodial interrogation. However, the petitioner had himself invested money in the accused company and had lodged a complaint with the concerned authority regarding fraud. It was further stated that petitioner was associated only with a separate website named ‘Srimaata,’ which he had launched and operated independently, and had no connection with the alleged fraudulent establishments. The petitioner is currently employed as an Executive Engineer with A.P.GENCO in Vijayawada.

Hence, prayed this Court to grant bail to the petitioner.

5. On the other hand, learned Additional Public Prosecutor opposed bail stating that the petitioner herein is a public servant working as Deputy Executive Chemist, AP GENCO, projected himself as a reputed officer and lured many