YERRAM VIJAY KUMAR Vs. STATE OF TELANGANA

JUDGEMENT

(1.) Leave granted.

(2.) The present appeals have been filed against the impugned judgment dtd. 20/6/2024 passed by the Single Bench of High Court for the State of Telangana at Hyderabad (hereinafter referred to as "High Court") whereby the petition under Sec. 482 of the Code of Criminal Procedure, 1973 (hereinafter referred to as "CrPC") of the Appellants - accused was dismissed. The prayer in the said petition was to quash the criminal proceedings in complaint case bearing C.C. No. 58 of 2022 filed by Respondent No. 2 - Complainant against the Appellants where the Special Court for Economic Offences at Hyderabad (hereinafter referred to as "Special Court") has taken cognizance of offences under Ss. 448 and 451 of the Companies Act, 2013 (hereinafter referred to as "Companies Act") and Ss. 420, 406, 426, 468, 470, 471 and 120B of the Indian Penal Code, 1860 (hereinafter referred to as "IPC").

(3.) The genesis of the dispute lies in the affairs of a private limited company, namely M/s Shreemukh Namitha Homes Private Limited (hereinafter referred to as "Company"), which was incorporated on 19/8/2015 under the provisions of the Companies Act by the Complainant and his wife, Namitha. At the time of incorporation, they were the promoters, first Directors and majority shareholders of the Company. Accused No. 1, i.e., Appellant in the Criminal Appeal arising out of SLP (Crl.) No. 11530/2024 was inducted as a Director in the Company on 3/9/2016. Accused No. 2, i.e., Appellant in the Criminal Appeal arising out of SLP (Crl.) No. 14783/2024 was inducted as a Director in the Company on 27/8/2015. The initial disputes between the parties arose with regard to management and control of the Company.