THE HONOURABLE SMT. JUSTICE K. SUJANA CRIMINAL PETITION No.10220 of 2025

ORDER:

This Criminal Petition is filed under Sections 480 and 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) by the petitioner/accused No.2 seeking bail in Crime No.29 of 2025, of EOW (Cyberabad) Police Station, Cyberabad Commissionerate, registered for the offences punishable under Section 318(4), 316(2) r/w 3(5) of the Bharatiya Nyaya Sanhita, 2023 and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999 (TSPDFEA).

2. The brief facts of the case are that on 30.05.2025 at 18:30 hours, the complainant lodged a complaint at Jeedimetla Police Station stating that in 2024, his brother-in-law informed him about "The Penguin Securities Company," which promised to double a one-time deposit by crediting returns every month for 20 months. Believing the scheme, the complainant visited the company’s office at Suryanagar, IDPL, Chinthal, and later transferred Rs.5 lakhs in his wife Smt. Mahalaxmi’s name to the firm’s account in December 2024. Though he received Rs.50,000/- each in January and February 2025, no further payments were made. Repeated phone calls to the office and to individuals named Swathi and Balaji went unanswered or were denied. On 30.05.2025, when he visited the office, Swathi claimed ignorance and stated that Balaji had absconded. Upon further enquiry, he learned that about 50 others were similarly deceived, with a total fraud amounting to Rs.6.5 crores. Basing on the same, present crime was registered.

3. Heard Sri Nageshwar Rao Pujari, learned counsel for the petitioner and Sri Syed Yasar Mamoon, learned Additional Public Prosecutor appearing for the respondent-State.

4. Learned counsel for the petitioner submitted that the petitioner is innocent of the alleged offence and has not committed any illegal act. It was further submitted that the petitioner has no role in the said offence and has been in judicial custody since 30.05.2025, i.e., for more than 70 days. The material part of the investigation is already complete. It was also submitted that the petitioner is willing to cooperate with the investigation and is ready to abide by any conditions that may be imposed by this Court and hence, prayed for grant of bail.

5. On the other hand, the learned Additional Public Prosecutor filed a counter, stating that the petitioner established Penguin Securities Company along with other partners and is the prime accused in this case. The investigation is still at a preliminary stage, and several documentary and oral evidences are yet to be collected. It is submitted that if the petitioner is released on bail at this stage, there is a likelihood that she may tamper with the evidence, as several victims have suffered at her hands. Therefore, at this stage, the petitioner is not entitled to the grant of bail.

6. In light of the submissions made by both learned counsel and upon perusal of the material available on record, it reveals that although the petitioner has been in judicial custody since 30.05.2025, the material part of the investigation is still pending, as the case has been transferred to the Economic Offences Wing, Cyberabad. Therefore, at this stage, this Court does not find any merit in the criminal petition for grant of bail to the petitioner.

7. Accordingly, the criminal petition is dismissed.

Miscellaneous applications, if any pending, shall also stand closed.

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K. SUJANA, J Date: 28.08.2025 sa