Raghunath Reddy Vs State by Govindaraja Nagar Ps

RAGHUNATH REDDY S/O DEVENDRA REDDY AGED ABOUT 48 YEARS R/AT MIND STAY ASSETS MANAGEMENT PVT LTD. C/AT. NO.11/10C, 1ST MAIN ROAD, PF LAYOUT, GOVINDARAJA BANGALORE CITY - 560 078.

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KRISHNA PHULARE S/O MAHADEO AGED ABOUT 34 YEARS R/AT MIND STAY ASSETS MANAGEMENT PVT LTD C/AT. NO.11/10C, 1ST MAIN ROAD, PF LAYOUT, GOVINDARAJA BANGALORE CITY - 560 079.

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Digitally signed by NANDINI MS Location: High Court of Karnataka

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PRADEEP S/O B THIPPESWAMY AGED ABOUT 37 YEARS R/AT MIND STAY ASSETS MANAGEMENT PVT LTD C/AT. NO.11/10C, 1ST MAIN ROAD, PF LAYOUT, GOVINDARAJA BANGALORE CITY - 560 079.

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…PETITIONERS

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(BY SRI VINOD N, ADV.)

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AND:

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STATE BY GOVINDARAJA NAGAR P.S BANGALORE CITY - 560 079

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NC: 2025:KHC:10712 CRL.P No. 3174 of 2025

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REPRESENTED BY STATE PUBLIC PROSECUTOR, HIGH COURT OF KARNATAKA, BANGALORE - 560 001.

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…RESPONDENT

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(BY SRI K. NAGESHWARAPPA, HCGP)

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THIS CRL.P IS FILED U/S.438 (FILED U/S.482 BNSS) CR.P.C PRAYING TO ENLARGE ON BAIL TO PETITIONERS THAT IS ACCUSED NO.1 TO 3 IN CRIME NO.436/2024 PENDING ON THE FILE OF THE COURT OF 24tH ACMM AT BENGALURU REGISTERED FOR THE OFFENCE P/US/ 420 R/W SEC.34 OF IPC REGISTERED BY GOVINDARAJA NAGAR POLICE STATION.

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THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE S VISHWAJITH SHETTY

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ORAL ORDER

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Accused Nos.1 to 3 in Crime No.436/2024 registered

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by Govindarajanagar Police Station, Bengaluru City for the

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offences punishable Section 420 R/w 34 of IPC are before this Court under Section 438 of Cr.P.C.,

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Heard the learned counsel for the parties.

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FIR in Crime No.436/2024 was registered by

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Govindarajanagar Police Station, Bengaluru City against

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the petitioners herein for the aforesaid offences on the basis of first information dated 20.12.2024 received from

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Sri Kushi Jupudi. Apprehending arrest in the said case, the

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NC: 2025:KHC:10712 CRL.P No. 3174 of 2025

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petitioners had filed Crl.Misc.No.1065/2024 before the jurisdictional Sessions Court, which was rejected on 14.02.2025. Therefore, they are before this Court.

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Learned counsel for the petitioners submits that the petitioners have no criminal antecedents. The petitioners are ready and willing to cooperate with the police for the purpose of investigation. He submits that the petitioners had invested money in stock market and they have suffered loss. Accordingly, he prays to allow the petition.

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Per contra, the learned HCGP has opposed the bail application.

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Perusal of the material on record would go to show that, the petitioners are the Directors of the company known as 'Mind Stay Assets Management Pvt. Ltd.,'. In the first information it is averred that, the first informant had invested money in the aforesaid company with assured returns of 3% profit per month. Since the

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NC: 2025:KHC:10712 CRL.P No. 3174 of 2025

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assured profit and investment made was not paid to the first informant, he had approached the police.

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From the averments made in the first

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information it appears that, the first informant had invested money in the company. According to the petitioners they had invested money in the stock market and have suffered loss. The alleged offences are punishable with imprisonment for a period of seven years and they are triable by the Court of Magistrate. The petitioners do not have any criminal antecedents. Considering the aforesaid aspect of the matter, I am of the opinion that the petitioners have made out a case for grant of anticipatory bail. Accordingly, the following:

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ORDER

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The Criminal Petition is allowed.

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The respondent - Police or any other police in the State of Karnataka are directed to release the petitioners in the event of their arrest in Crime No.436/2024 registered by Govindarajanagar Police Station, Bengaluru

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NC: 2025:KHC:10712 CRL.P No. 3174 of 2025

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City for the offences punishable Section 420 R/w 34 of IPC subject to the following conditions:

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The petitioners shall appear before

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the Investigating Officer in the present case on 21.03.2025 between 10.00 a.m, and 11.00 a.m, on the said date, if necessary, the Investigating Officer shall take the petitioners to custody for the purpose of interrogation on the said date but it is made clear that the Investigating Officer shall release the petitioners on the very same date on or before 6.00 p.m, subject to on executing a personal bond for a sum of Rs.1,00,000/- (Rupees One Lakh only) each with one surety for the likesum to the satisfaction of the investigating officer/jurisdictional Court.

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The petitioners shall mark their attendance before the Investigation Officer on first Sunday of every month between 10.00 a.m and 1.00 p.m, till investigation of the case is complete and final report is filed.

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The petitioners shall regularly appear before the Trial Court without fail unless exempted by the Trial Court for valid reasons.

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NC: 2025:KHC:10712 CRL.P No. 3174 of 2025

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The petitioners shall not tamper with the prosecution witness and they shall cooperate with the Police for investigation and appear before them whenever called upon.

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The petitioners shall not involve in similar offences in future.

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Sd /- (S VISHWAJITH SHETTY) JUDGE

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NMS

Raghunath Reddy v. State by Govindaraja Nagar Ps

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Raghunath Reddy v. State by Govindaraja Nagar Ps

Case brief

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