Petitioner sought anticipatory bail in a deposit-collection case alleging he received over Rs.1.97 crore as an unregistered shareholder and treasurer in a scheme that defaulted on Rs.16.33 crore. Considering the magnitude of the offence, the court declined bail.
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CRL OP(MD). No.20593 of 2025
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
( Criminal Jurisdiction )
Date : 19.11.2025
PRESENT
THE HONOURABLE MRS. JUSTICE S.SRIMATHY
CRL OP(MD)No.20593 of 2025
V.Sakthivel ... Petitioner/ Accused No.4
Vs The State of Tamilnadu, Rep by the Inspector of Police, Economic Offence Wing, Dindigul, Dindigul District. (Crime No.2 of 2025) ... Respondent/Complainant
For Petitioner : M/s.T.Indrachithu
For Respondent : Mr.S.S.Manoj Government Advocate (Crl. side)
PETITION FOR ANTICIPATORY BAIL Under Sec.482 of BNSS
PRAYER :-
For Anticipatory Bail in Cr.No.2 of 2025 on the file of the respondent police.
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CRL OP(MD). No.20593 of 2025
ORDER : The Court made the following order :-
The petitioner/Accused, who apprehend arrest at the hands of the respondent police for the offences punishable under Sections 406, 420, 120(b), of IPC r/w. Section 5 of Tamil Nadu Protection of Interest of Depositors (In Financial Establishment) Act, 1997 r/w. Section 21(3), 25 of BUDS Act, in Crime No.2 of 2025, seeks anticipatory bail.
deposits from the public by promising higher returns and interest rates, but later defaulted and failed to repay a sum of Rs.16,33,50,000/-. The allegation against the petitioner is that, as an unregistered shareholder and treasurer, he received Rs.1,97,45,104/- in his account. Hence, the complaint.
petitioner is an innocent person and he has not committed any offence as alleged by the prosecution. Hence, he prays for grant of anticipatory bail to the petitioner.
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CRL OP(MD). No.20593 of 2025
respondent Police submits that the accused persons collected deposits from the public by promising higher returns and interest rates, but later defaulted and failed to repay a sum of Rs.16,33,50,000/-. The allegation against the petitioner is that, as an unregistered shareholder and treasurer, he received Rs.1,97,45,104/- in his account. Therefore, he opposed for grant of anticipatory bail to the petitioner.
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CRL OP(MD). No.20593 of 2025
To
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CRL OP(MD). No.20593 of 2025
S.SRIMATHY,J.
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ORDER IN CRL OP(MD) No.20593 of 2025
Date : 19.11.2025
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1 issue framed by the court
Whether anticipatory bail should be granted to the petitioner accused of collecting public deposits and defaulting on repayment.
4 provisions across 4 enactments
V.Sakthivel
The State of Tamilnadu, Rep by the Inspector of Police, Economic Offence Wing, Dindigul, Dindigul District
S.Srimathy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
