Case Note & Summary
The petitioner, Shreesha Sasithota Prabhakaran, Accused No.1, filed a criminal petition under Section 439 of the Code of Criminal Procedure, 1973, seeking bail in Crime No.11/2022 registered at Shankarapura Police Station, Bengaluru City. The case involves serious financial offences including cheating (Section 420 IPC), criminal breach of trust (Section 406 IPC), and offences under the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (KPIDFE Act) and the Banning of Un-Regulated Deposit Schemes Act, 2019 (BURDS Act). The complainant and her family members invested Rs. 17,50,00,000/- for purchase of high value shares through a company called M/s Sunness Capital India. The petitioner was arrested and remanded to judicial custody. The investigation was completed and a charge sheet was filed. The petitioner argued that he is innocent, has no criminal antecedents, and is willing to abide by any conditions imposed by the court. The State opposed the bail application citing the gravity of the offence and the huge amount involved. The court, after hearing both sides, observed that the investigation is complete and the charge sheet has been filed, and the petitioner's custodial interrogation is not required. Considering the nature of the offence and the fact that the petitioner is a permanent resident of Karnataka, the court granted bail subject to conditions including furnishing a bond of Rs. 5,00,000/- with two sureties, surrendering his passport, and reporting to the police station once a week. The court also directed that the petitioner shall not tamper with evidence or influence witnesses.
Headnote
A) Criminal Procedure Code - Bail - Section 439 CrPC - Enlargement on bail - Petitioner/Accused No.1 sought bail in a case involving cheating, criminal breach of trust, and offences under financial regulatory acts - Court considered the nature and gravity of the offence, the role of the accused, and the fact that investigation was complete and charge sheet filed - Held that the accused is entitled to bail subject to stringent conditions to secure his presence and prevent tampering with evidence (Paras 1-6).
Issue of Consideration
Whether the petitioner/Accused No.1 is entitled to be enlarged on bail in connection with Crime No.11/2022 for offences under IPC, KPIDFE Act, and BURDS Act.
Final Decision
The petition is allowed. The petitioner/Accused No.1 is ordered to be enlarged on bail in Spl.C.C.No.1792/2022 (Crime No.11/2022) of Shankarapura Police Station, Bengaluru City, subject to the following conditions: (i) The petitioner shall execute a personal bond for Rs.5,00,000/- with two sureties for the likesum to the satisfaction of the trial court; (ii) The petitioner shall surrender his passport before the trial court; (iii) The petitioner shall not tamper with the prosecution evidence or influence the witnesses; (iv) The petitioner shall appear before the trial court on all dates of hearing; (v) The petitioner shall not involve in any criminal activities; (vi) The petitioner shall report to the Investigating Officer once in a week i.e., every Monday between 10.00 a.m. and 5.00 p.m. till the trial is concluded; (vii) The petitioner shall mark his attendance before the trial court on every first working day of every month; (viii) The petitioner shall not leave the jurisdiction of the trial court without prior permission.
Law Points
- Bail under Section 439 CrPC
- Offences under IPC Sections 420
- 419
- 406
- 403
- 120B
- 506
- KPIDFE Act Sections 4 and 9
- BURDS Act Sections 5 and 21(3)
- Prima facie case
- Custodial interrogation
- Flight risk
- Tampering with evidence
