SUROJU VENKATA SIVA RAMBABU Vs. STATE OF ANDHRA PRADESH
LAWS(APH)-2019-10-18
HIGH COURT OF ANDHRA PRADESH
Decided on October 16,2019

Suroju Venkata Siva Rambabu Appellant
VERSUS
STATE OF ANDHRA PRADESH Respondents

JUDGEMENT

U Durga Prasad Rao, J. - (1.)In this petition filed under Section 482 Cr.P.C., the petitioners-A3 & A4 seek to quash the proceedings against them in Cr.No.3/2019 of CID Police Station, Amaravathi, Mangalagiri, Guntur District, registered for the offences under Sections 403, 406, 420, 468, 471 IPC and Section 5 of the A.P. Protection of Depositors of Financial Establishment Act, 1999 (for short, 'the Act').
(2.)The de facto complainant, who is a retired employee in Defence service, lodged complaint with Additional D.G, CID, A.P. which was registered as Cr.No.3/2019 and investigated into. The complaint allegations briefly are that the de facto complainant deposited Rs.20.00 lakhs in Agri Gold Company between 2011 and 2014, but the company failed to pay the amount with interest as promised. He came to know that the said company cheated him and several other depositors and misappropriated the deposited amounts. Investigation is reported pending.
(3.)Heard Sri Md. Saleem, learned counsel for petitioners, and learned Additional Public Prosecutor representing the first respondent-State.
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