the offences punishable under Sections 420, 409, 120 of IPC, Section 5 of TNPID Act and Section 3, 5, 21(1), 21(2), 21(3), 23 and 25 of BUDS Act alleging that the International Financial Services at Vellore and LNS, International Financial Services at Chennai had collected deposits promising high rate of interest and the defacto complainant has invested an amount of Rs.6.3 crores, but they have not repaid the said amount. During the investigation, a search was conducted at 31 places and recovered cash and gold and the property documents and 7 cars for a total value of Rs.2.5 crores. Thereafter, they filed an alteration report and this petitioner was arrested on 13.08.2022 and remanded to judicial custody on 14.08.2022. In fact, the petitioner has not committed any offences and he was implicated as an accused, based on the confession statement given by the co-accused and he is not a named accused in the FIR. The petitioner was working in Valeo India Pvt. Ltd., at Sriperumpudhur, Kanchipuram from 2012 to 2019. He had acquaintance and become friend of co-worker namely Mohanbabu and he introduced his brother Lakshmi Narayanan and also invested money through Mohan Babu during the month of June 2015 and the same was transferred to A8
