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Judgment
Harinath. N, J
The petitioner is arraigned as Accused No.3 in Crime No.219 of 2024 for the alleged offences under Sections 406, 420 read with 34 of the Indian Penal Code (IPC) and Sections 5 and 7 of the Andhra Pradesh Prohibition of Defection of Elected Representatives (APPDFE) Act, at Ponnur Town Police Station, Guntur.
It is alleged that the de facto complainant was induced to invest in the business of the 1st accused. The 1st accused is said to be in the business of dealing in Iron and scrap business. It is further alleged that the petitioner herein was also instrumental in securing new investments on behalf of the 1st accused. As seen from the averments in the complainant, it is evident that the de facto complainant transferred money for the purpose of investment in the business. Most of the funds were transferred through online transaction methods.
As seen from the complaint, the dispute among the de fecto complainant and the accused arose when the de facto complainant enquired with regard to the investment and the profit due payable to the de facto complainant. It is alleged that the petitioners have been absconding since then.
The learned Assistant Public Prosecutor submits that Accused Nos.1, 2, 4, 6 and 8 are absconding and the investigation is still pending.
Considering the nature of the allegations, the petition deserves consideration. Therefore, this Court is inclined to grant bail to the petitioner in the event of arrest, subject to the following conditions:-
i) The petitioner shall be enlarged on bail in the event of their arrest upon furnishing a personal bond for Rs.20,000/- (Rupees Twenty Thousand only) each, along with two sureties for a like sum each, to the satisfaction of the Station House Officer, Ponnur Town Police Station, Guntur.
ii) The petitioner is further directed to cooperate with investigation and appear before the Station House Officer, Ponnur Town Police Station, Guntur, every Monday from 10 AM to 12:00 noon, till filinf of charge sheet/final report.
With the above conditions, the criminal petition is allowed.
Miscellaneous petitions, if any pending, in the Criminal Petition, shall stand closed.