MUNGAPATI SUDHAKARA RAO Vs. STATE OF AP

JUDGEMENT

(1.) A2 in crime No.116 of 2013 of I Town Police Station, Srikalahasthi is the petitioner. Investigation in this case is taken over by C.I.D of Andhra Pradesh. The petitioner is requesting anticipatory bail apprehending arrest by the respondent Police.

(2.) This instance is one connected to the alleged fraud involving Akshaya gold. On account of failure to repay the amounts to the subscribers of various schemes introduced by this company, it appears that a complaint was lodged in I Town Police Station, Srikalahasthi on 17.07.2013, where a case was initially registered for the offence under section 420 r/w 34 I.P.C. Later on, basing on the investigation, Section 5 of the Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999 (for short, 'the Act') and other allied offences namely Sections 3, 4, 5 and 6(c) r/w Section 2 of the Prized Chits Money Circulation Scheme (Banning) Act 1978, were added.

(3.) The petitioner is concerned to multiple number of cases in various districts. It appears that the Court of learned Principal Sessions Judge, Guntur is directed to look into these matters by the orders of the then High Court of Andhra Pradesh at Hyderabad and is seized of all the matters relating to Akshaya gold.