A Single Bench of Justice G. Anupama Chakravarthy of Telangana High Court reduced the surety amount imposed by the Economic Offences Court from Rs. 2 lakhs to Rs. 25,000 on grounds that the offender was found financially poor.
The petitioner filed the petition before the high court praying to modify the conditions imposed by the Special Judge for Economic Offences, Hyderabad by reducing the Surety amount from Rs.2,00,000 to Rs.25,000, each with two sureties.
Upon examining the documents, the bench noted that as per the records, the trial court, through its decision on 22.06.2023, permitted the petitioner to be released on bail, subject to the requirement that the petitioner provide a personal bond amounting to Rs. 2,00,000, alongside two sureties of the same amount, to meet the court’s approval.
Drawing from the prior ruling of the same high court that had decreased the surety sum under similar circumstances, the present bench decreased the amount involved.
The High Court noted that considering the argument put forth by the representative, Y. Koteshwar Rao regarding the petitioner’s financial constraints, it was lo suitable to decrease the surety sum.
Thus, the bench decided that “The petitioner is directed to be released on bail on condition of his executing a personal bond for a sum of with one surety for a likesum to the satisfaction of Special Judge for Economic Offences, Hyderabad.”
S. Ganesh, Assistant Public Prosecutor appeared on behalf of the Respondent, state.
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