Deepalakshmi Vs The State of Tamilnadu, rep by The Inspector of Police, Economic Offence Wing

The petitioner, who was arrested and remanded to judicial custody on 07.10.2025 for the offences punishable under Sections 406, 420, 120(B) of IPC and Section 5 of the Tamil Nadu Protection of Interests of Depositors (TANPID) Act, 1997 and Sections 21(3) & 25 of the Banning of Unregulated Deposit Schemes (BUDS) Act 2019, in Crime No.02 of 2025 on the file of the respondent police. seeks bail.

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The case of the prosecution is that the petitioner including the Chairman of the Nesam Trust and associates had collected large sums of money from the public. Thereafter, they refused to return the same. Hence, the complaint.

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The learned counsel for the petitioner submitted that the petitioner is an innocent person and she has not committed any offences as alleged by the prosecution. He further submitted that the petitioner had already been granted interim bail by this Court on 05.01.2026 and she has co-operated with the investigation. He further submitted that the petitioner is ready and willing to abide by any conditions which may be

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imposed by this Court.

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The learned Additional Public Prosecutor submitted that the petitioner is staff of A1 and she co-operate with the investigation. However, he opposed for grant of bail to the petitioner.

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Considering the facts and circumstances of the case and also the fact that the petitioner had complied with the conditions as imposed by this Court dated 05.01.2026 and the petitioner is ready and willing to deposit some amount to the credit of crime number. Hence, the interim bail already granted by this Court dated 05.01.2026 is made absolute on the following conditions:

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(a )the petitioner is directed to deposit a sum of Rs. 50,000/- (Rupees Fifty Thousand only) to the credit of Crime No.02 of 2025 before the learned Special Court under TNPID Act Cases, Madurai. After receipt of entire amount, the learned Special Court under TNPID Act Cases, Madurai, shall deposit the said amount in an interest bearing Fixed Deposit in any nationalized Bank initially for a period of one year and renew them periodically until the final order/Judgment is passed in

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the case in Crime No.02 of 2025. The learned Judicial Magistrate or Trial Court shall pass orders regarding entitlement of the said amount in its final order/Judgment.

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[b] the petitioner shall report before the respondent police once in a week ie., on every Saturday at 10.30 a.m., until further orders.

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[c] the petitioner shall not tamper with the evidence or witness either during investigation or trial.

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[d] the petitioner shall not abscond either during investigation or trial.

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[e] On breach of any of the aforesaid conditions, the learned Magistrate/Trial Court is entitled to take appropriate action against the petitioner in accordance with law as if the conditions have been imposed and the petitioner is released on bail by the learned Magistrate/Trial Court himself as laid down by the Hon'ble Supreme Court in P.K.Shaji vs. State of Kerala [(2005)AIR SCW 5560].

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[f] If the accused thereafter absconds, a fresh FIR can be registered under Section 269 BNS.

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(S S Y J)

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17.02.2026