C.Suresh Reddy vs. The State Of Andhra Pradesh

IN THE HIGH COURT OF JUDICATURE OF ANDHRA PRADESH AT HYDERABAD

THURSDAY THE SIXTH DAY OF JUNE TWO THOUSAND AND THIRTEEN : PRESENT:

THE HON'BLE SRI JUSTICE K.G.SHANKAR

CRLP .NO:4999 of 2013

Between:

C.Suresh Reddy, S/o Subba Reddy,

..... Petitioner(s)

AND The State of A.p., Through P.S., CID, Hyderabad.

.....Respondent

Petition under Section 439 of Crp.C., praying that in the circumstances stated in the grounds filed herein the High Court may be pleased to enlarge the petitioner on bail for which he shall abide by any conditions imposed by this Hon'ble Court, while granting bail;

COUNSEL FOR THE PETITIONER: Sri M. Ramachandra Reddy COUNSEL FOR THE RESPONDENT: The Special Public Prosecutor The Court made the following

ORDER:

"The petitioner is A1 in Crime No. 78 of 2012. He along with his wife allegedly cheated the State Bank of Hyderabad, MSME Medchal Branch. The case involves a bank fraud involving Rs. 2.41 crores. However, so far as the petitioner is concerned, he allegedly cheated the bank to a tune of Rs. 36.66 lakhs. Already an amount of Rs. 34.50 lakhs was recovered from the petitioner and another guarantor, who is his wife. It is also stated by the prosecution that the bank may suffer an ultimate loss of Rs. 32.75 lakhs including interest. The learned counsel for the petitioner submitted that more or less the entire loan had been collected and that the petitioner is a permanent resident of Hyderabad. Indeed, investigation has not concluded but there is enough progress in the investigation. It is not the case of anybody that the petitioner is absconding.

In view of these circumstances, I consider it appropriate to enlarge the petitioner on bail. However, where financial scam is involved and where it is the allegation that the petitioner is a technical evil genius, I consider it appropriate to enlarge the petitioner on terms only.

Accordingly, this Criminal Petition is allowed. The petitioner is enlarged on bail on a bond of Rs. 10,000/- (Rupees Ten Thousand Only) with two sureties in a likesum to the satisfaction of II Metropolitan Magistrate, Cyberabad, L.B.Nagar. After his release, the petitioner shall appear before the EOW, C ID , Hyderabad on every Monday, Wednesday and Friday between 9.00 AM and 6.00 PM".

//TRUE COPY//

ASSISTANT REGISTRAR

To

• 1. The II Metropolitan Magistrate, Cyberabad, L.B.Nagar, Hyderabad.
• 2. The District & Sessions Judge, Ranga Reddy District, L.B. Nagar, Hyderabad.
• 3. The Superintendent, Central Prison, Cherlapally, R.R. District.
• 4. The Inspector of Police, EOW, CID, Hyderabad.
• 5. The Station House Officer, C.I.D. Police Station, Hyderabad.
• 6. Two CCs to the Special Public Prosecutor, High Court of A.P., Hyderabad.
• 7. One CC to Sri M. Ramachandra Reddy, Advocate (OPUC)
• 8. One spare copy.

Ksv

HIGH COURT

Ksv Date of drafting: 06-06-2013

KGSJ

DATE: 06-06-2013

ORDER

CRLP NO. 4999 OF 2013

BAIL GRANTED