The High Court · 2025

Petition under Section 482 OF BNSS praying that in the circumstances stated in the Memorandum of Grounds of Criminal Petition, the High Court may be pleased to grant Anticipatory bail to the petitioner/acrused Nos.4 and 5 on any terms and conditions to enlarge the petitioners on bail in the event their arrest in FIR No. 24212024 dated 04.12.2024 on file of Police Station INSP Admin (DD), Hyderabad District This Petition coming on for hearing, upon perusing the Memorandum of Grounds of Criminal Petition and upon hearing the arguments of Sri G DINESH PATIL, Advocate for the Petitioners and SRI SYED YASAR MAMOON, the Additional Public Prosecutor for the Respondent. The Court made the following: ORDER TIIE HON'BLE SRI JUSTICE J. SREENI VAS RAO CRIMINAL PETITION No.9225 oli !,025 ORDER: This Criminal Petition is frled under Sectio: L 482 of Bharatiya Nagarik Suraksha Sanhitha, 2023 (for short 'BNSS') seeking anticipatory bail to the petitioners/accused Nos., and 5 in Crime No.242 of 2024 on the file of the INSP Admin ( ! D) Police Station, Hyderabad District, for the offences punishable u rder Sections 316 (2), 318 (4) rlw.6l (2) of Bharatiya Nyaya San}i a,2023 (for short 'BNS) and Section 5 of the Telangana Protection cf Depositors and Financial Establishment Act, 1999 (for short '' PDFE Act') and Section l2 of Telangana Chit Fund Act, 1982 (for r hort 'TSCFA').

2. The case of the prosecution in brief is that I, n 04.12.2024, the de-facto complainant lodged a complaint stating that she became acquainted with Accused No. I and his eomparies IWs Kingpin Research & Wealth Management Pvt. Ltd. anc Pradeep Assets Management (OPC) Pvt. Ltd., located at H.No. | -3-945, Flat No 308, Pancom Business Centre, Sri Nagar Colony Khairatabad. In February ,?024, during a visit to Pancha 4ukha Lakshmi Venkateshwara Devasthanam, RTC Cross R,t rds, Hyderabad, 2 Accused No.l approached her and other devotees, e61v655ing them to invest in his companies, promising a flrxed retum of 6% per month. He claimed the funds would be invested in the stock market' trading, and startups, and also ran a chit fund under the name "Divya Jyothi Chit Funds." Based on his representations, the complainant invested a total of Rs.15,50,000. On 06'll'2024, a co-investor' P' Vinay Panthulu, informed her that Pradeep Shiv Kumar Patil had absconded after cheating multiple individuals' His mobile numbers (9951808182 arrd 9603592540) were found switched off' She later leamed that over 250 investors had been defrauded, with a total loss of approximately {44 crore. [t was further alleged that Patil acquired assets in the names of his mother Usha Bhai, sister Asha Waris' wife Shubangi Patil (in her matemal vitlage Mukhed), and other family members who supported him in the conspiracy' Based on the same' present crime was registered.

3.HeardMr.G.DineshPatil,learnedCounselforthepetitionen and Mr.Syed Yasar Mamoon, leamed Additional Public Prosecutor for respondent -State. 3 4. Learned counsel for the petitioner su rmits that the petitioners have not committed the offence and 1ey were falsely implicated in the present case only on the groun I that petitioner No.2/accused No.5 is the wife of accused No, I and petitioner No.l/accused No.4 is the relative of accused l\ t.l. He further submitted that there are no specific allegatic rs against the petitioner to attract the ingredients of the alleged r ffences and the entire allegations are levelled against accused t{o.l only. He further submitted that petitioners are no way coll :emed with the Company of accused No.l namely M/s. King: n Research & Wealth Management Pvt. Ltd. and Divya Jyothi )hit Funds. He further submitted that petitioners have not receiv:d any amount either from the accused No.I or from the vicr.i ns, hence, the ingredients under Section 5 of TPDFE are not attra )ted against the petitioner and the other offences levelled against th, petitioners are punishable with imprisonment upto seven years. 'l'l e investigating off,rcer without following the mandatory proce( ure prescribed under the provision of Section 35 (3) of BNSS is proceeding further and the same is not permitted under lz w. He further submitted that petitioners are not having any :ther criminal 4 antecedeflts and they are ready and witling to cooperate with the investigation and abide by the conditions which are going to be imposed by this Court and hence prayed for grant of anticipatory

5. Per contra, the leamed Additional Public prosecutor submitted that the petitioners atong with accused No.l have cammitted gpve offence and accused No. I along with other accused have collected huge amount of Rs.44 crores and they cheated around 386 members under the guise of M/s. Kingpin Research & Wealth Management Pvt. Ltd. and Divya Jyothi Chit Funds and they misappropriated the said amounts of the victims and diverted the said amounts into the accounts of accused Nos.4 and 5 and other accused. He further submitted that accused No. I has transferred a huge amounts of Rs.9,55,000/- to the account o[ accused No.4. Accused No.l and 4 are nooe other than the wife and husband and they are living in one roof. Hence, petitioners are not entitled for grant of anticipatory bail'

6. Having considered the rival submissions made by the respective parties and after perusal of the material available on record, it reveals that accused No.l, namely Pradeep Shiv Kumar Patil and others estabtished the Company namely IWs. Kingpin 5 R.esearch & Wealth Management Pvt. Ltd. and u'.t ler the guise of said Company, they collected huge amounts frc m the de-facto complainant and other victims by giving false pr lmise that they will pay huge rate of, interest per month. The reco r . further reveals that accused No.l is also running chit fund colr rany under the name and style of Divya Jyothi Chit Funds. The ;pecific case of the prosecution is that de-facto complainant an<[ more than 386 victims deposited huge amounts in the name ,)' M/s. Kingpin Research & Wealth Management Pvt. Ltd. an,l also in Divya Jyothi Chit Funds. Accused No.l transferred an amount of Rs.9,55,000i- to accused No.4's account on difftr ent dates. Even according to the prosecution, the said amounls belong to the innocent victims. The Assistant Commissioner cl Police, Special Investigation Team, CCS, Hyderabad flrled <:r'unter affidavit wherein he specifically mentioned that 16 cro es of amounts belongs to innocent victims diverted by the accur;, d No.l into the share market and also misappropriated the amourrr ; and they were not refunded the said amounts to the victims. Ev:n according to the leamed Additional Public Prosecutor, ac :used No.l is absconding and the investigation is under progresr; 6 7. Taking into consideration the facts and circumstances of the case and the gravity and seriousness of the offences, this Court is of the considered view that these are not f,rt cases for grant of anticipatory bail to the petitioners/accused Nos.4 aod 5.

8. Accordingly, the Criminal Petition is dismissed. Miscellaneous applications, pending if any, shall stand closed. SD/- MOHD,ISMAIL DEPUTY REGISTRAR //TRUE COPY// s CTION OFFICER To, l.ThexllAdditionalChiefMetropolitanMagistrateatNampally,Hyderabad. 2. The Station House Officer, P.S INSP Admin (DD), Hyderabad District 3. One CC to SRI G DINESH PATIL Advocate [OPUCI 4. Two CCs to SRI PUBLIC PROSECUTOR, High Court for the State of Telangana, HYderabad [OUT]

5. Two CD CoPies M. GR/PSL HIGH COURT DATED:0510812025 ORDER CRLP.No-9225 o12025 ttE SIe o o ( I JAN 2026 , "rr 'j DISMISSING THE CR]MINAL PETITION LL