The Criminal Petition has been filed under Sections 438 and 482 of
Bharatiya Nagarik Suraksha Sanhita, 2023 (for brevity „the BNSS‟) by the
Petitioner/Accused No.3 for seeking to grant pre-arrest bail in connection with
Crime No.85 of 2025 dated 01.05.2025 of Dwaraka Police Station,
Visakhapatnam, registered for the alleged offences punishable under Sections
420, 406, 411, 414, 120B of IPC, 21(1)(2)(3), 23 of The Banning of
Unregulated Deposit Schemes (TBUDS) Act, 2019 (for short „the TBUDS
Act‟), 3,4 Prize Chits and Money Circulation Schemes (Banning) Act, 1978
(for short „the PC and MCSBA Act‟) read with 34 of the Indian Penal Code,
1860 (for short „the I.P.C‟).
2. The material averments stemming from the petition of the prosecution
are that SNEHA MACS (Mutually Aided Cooperative Society Ltd.),
Rajendranagar, Seethampeta, Visakhapatnam, was established by Accused
No.1 as Founder-Chairman and Director, and his wife/Accused No.2, as the
President. Accused Nos. 1 and 2 established the Society under the ideology
of Dr. B.R. Ambedkar, promoting the slogan “Pay back to Society”, which had
actively induced the depositors, particularly the Scheduled Caste community,
to deposit their money in the Society.