Andhra Pradesh high court grants anticipatory bail to Vikranth in Kakinada sea port shares case

Vijayawada: The high court on Friday granted anticipatory bail to Y Vikranth Reddy, son of YSRCP Rajya Sabha MP Y V Subba Reddy, in the case registered for alleged forcible transfer of Kakinada Sea Port Limited (KSPL) shares from K V Rao to another corporate entity. The high court observed that there was no plausible explanation for the delay in reporting the offence alleged to have taken place four-and-a-half years ago.The crime investigation dept (CID) registered a case against Vikranth and others following a complaint by K V Rao, alleging that he was threatened him with false cases and his shares were forcibly taken over at a throwaway price. Vikranth moved the high court seeking anticipatory bail, contending that the case was politically motivated and there was no material to show that he benefited from the said share transfer transaction.The HC pointed out that the FIR stated that police received the complaint on Dec 2, 2024, but at the same time, Rao's counsel said a preliminary inquiry was conducted in Sep 2024. Justice K Srinivas Reddy said there was no material to show that the report was given in Sep, and it is not known how police would conduct a preliminary inquiry without there being any complaint. Without there being a report before the police, claiming to have conducted a preliminary inquiry throws any amount of doubt with regard to the way the investigation has been carried out, he observed.Citing a Supreme Court judgement in the Gurbaksh Singh Sibbia and others vs State of Punjab, in which it was held that the beneficial provision contained in section 438 CrPC must be saved but not jettisoned, Justice Reddy said that it is of paramount consideration to remember that freedom of the individual is as necessary for the survival of society as it is for the egoistic purposes of the individual, before granting anticipatory bail to Vikranth.The HC imposed certain conditions, stating that he must submit a personal bond of Rs 25,000 and two sureties of like sum in the event of arrest. He shall not directly or indirectly make any inducement, threat, or promise to any person acquainted with the facts of the case, and he must cooperate with the investigation and attend before the agency whenever called.