Telangana HC Grants Conditional Bail to Kudos Finance CEO Allegedly Involved in Loan Enforcement Case
The Telangana High Court has granted conditional bail to the CEO of Kudos Finance, allegedly involved in the loan application case.
Kudos NBFC “allegedly” engages fintech companies (digital lending partners) as service providers to help identify potential customers, verify their eligibility, collect information, and collect principal and interest.
About 43 FIRs have been registered by various police stations against individuals and call centers involved in instant personal loans.
The single bench of Judge Lalitha Kanneganti ruled that the criminal petition was authorized. The petitioner will be released on bail under ECIR No. ECIR/HYZO/04/2021 on his execution of a personal surety for a sum of Rs.20,000/- with two sureties for a similar sum each to the satisfaction metropolitan sessions Judge, Nampally, Hyderabad. The applicant will report to the authorities concerned once a week, that is to say on Fridays between 10:00 a.m. and 1:00 p.m. He will cooperate with the investigation and will not influence the officers or the witnesses. He will not leave the country and will hand over the passport to the authorities. In the event of violation of any of the conditions imposed above, the authorities are free to file an appropriate application for the cancellation of the bond.
Advocates Abhishek Garg, Apurva M Gokhale of AGS Legal appeared for the Applicant/Accused in the High Court.
Subscribe to Taxscan AdFree to see the judgment
Support our journalism by subscribing to Taxscan ad-free. follow us on Telegram for quick updates.