YENUGANTI RAMARAO Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) This petition is filed under Sections 437 and 439 of Cr.P.C, by the sole accused in Crime No.146 of 2020 of Darsi police station, Prakasam District, registered for the offences punishable under Sections 406 and 420 IPC to enlarge him on bail as he is in Judicial custody since 19.08.2020.

(2.) The case of prosecution in brief is that the de facto complainant lodged a complaint before Darsi police station on 07.08.2020 alleging that the petitioner is carrying on real estate, finance and chit fund business and the de facto complainant became a subscriber of Rs.10,00,000/- chit and similarly under the pretext of giving partnership in the real estate and finance business, the petitioner took Rs.2.00 crores and also collected Rs.2.80 crores as handloan and the petitioner also collected an amount of about Rs.15.00 crores from the villagers and when the de facto complainant demanded for repayment of amount, he failed to repay the same and thereby the petitioner/ accused committed offences punishable under Section 420 IPC and Section 5 of A.P. Prevention of Depositors of Financial Establishment Act. On the strength of the complaint, the police registered the crime and issued FIR for various offences punishable under Sections 406 and 420 IPC and Section 5 of A.P. Prevention of Depositors of Financial Establishment Act.

(3.) The main contention of the learned counsel for the petitioner is that since the date of remand of the petitioner, he is in Judicial custody and till now six witnesses were examined and the de facto complainant or any of the villagers failed to produce a scrap of paper to show that they advanced any amount to the petitioner and failed to establish that the de facto complainant or any other villager deposited any amount with this petitioner or in the partnership business. In the absence of any material, the registration of a crime and detaining the petitioner in prison is a serious illegality and thereby requested to enlarge the petitioner on bail.