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Judgment
The Criminal Revision Case Nos.1049 and 1051 of 2026 are heard together and are being disposed of by this Common Order, as the Crime and the Petitioner are one and the same.
The Criminal Revision Case No.1049 of 2026 has been preferred under Sections 438 and 442 of the Bharatiya Nyaya Sanhita, 2023 (for brevity, ‘the BNSS’) seeking modification of the condition imposed in the order dated 22.06.2026 in Crl.M.P.No.292 of 2026 in Crime No.73 of 2026, on the file of the learned Additional Judicial Magistrate of First Class‑cum‑Civil Judge (Junior Division), Mangalagiri (for brevity, ‘the learned Trial Court’).
The Criminal Revision Case No.1051 of 2026 has been preferred under Sections 438 and 442 of ‘the BNSS’ seeking modification of the condition imposed in the order dated 09.06.2026 in Crl.M.P.No.238 of 2026 in Crime No.73 of 2026, on the file of ‘the learned Trial Court.’
Heard the learned counsel for the Petitioner and the learned Assistant Public Prosecutor. Perused the record.
The Petitioner is an Insolvency Professional appointed pursuant to the order dated 21.07.2026 passed by the National Company Law Tribunal, Amaravathi Bench in CP(IB) No.76/7/AMR/2022.
In Crl.M.P.No.238 of 2026, the Petitioner sought interim custody of 41 Electric Motors along with cash amount of Rs.45,20,000/-. The learned Magistrate, by order dated 09.06.2026, partly allowed the petition and ordered release/interim custody of the Electric Motors subject to conditions including furnishing of a personal bond for Rs.2,05,000/- with two sureties for a sum of Rs.1,02,500/- each.
In Crl.M.P.No.292 of 2026, the Petitioner sought interim custody/release of the seized cash amount of Rs.45,20,000/-. The learned Magistrate, by order dated 22.06.2026, directed release/interim custody subject to conditions including furnishing of a personal bond for Rs.45,20,000/- with one or two sureties for a sum of Rs.22,60,000/- each, and further directed that the cash shall be produced as and when directed by the Court.
The Petitioner, being a statutory officer discharging functions under the directions of the National Company Law Tribunal, ought not to have been burdened with the requirement of personal sureties.
In view of the above, this Court finds no justification for insisting upon personal bonds with sureties. The impugned orders are accordingly modified as follows:
“The Petitioner shall furnish a Bank Guarantee for Rs.45,20,000/- in respect of Crl.M.P.No.292 of 2026. The Petitioner shall furnish a Bank Guarantee for Rs.2,05,000/-in respect of Crl.M.P.No.238 of 2026.”
Accordingly, the two Criminal Revision Cases are disposed of. There shall be no order as to costs.
As a sequel, interlocutory applications, if any pending, shall stand closed.