NUTHALAPATI ASHOK KUMAR Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) This petition is filed under Section 438 of the Code of Criminal Procedure, 1973 (for short "Cr.P.C.") seeking pre-arrest bail to the petitioners/A2 to A4 in the event of their arrest in connection with Crime No. 05 of 2018 of K.V.Palli Police Station, Chittoor District registered for the offences punishable under Section 420 of the Indian Penal Code, 1860 and Section 5 of the Protection of Depositors of Financial Establishments Act, 1999 read with Section 156(3) Cr.P.C.

(2.) The case of prosecution is that a report was lodged wherein it was alleged that the accused with a dishonest intention informed the complainant that they are going to issue public notice for their shares and the members who have already deposited in their company are receiving heavy interest and believing their words, the complainant along with some others deposited huge amounts. After receiving the deposits the accused failed to pay the interests as promised and when the depositors asked them about the same, they threatened them with dire consequences. Basing on the said report, the present complaint is registered in which the petitioners are arrayed as A2 to A4.

(3.) Heard Sri V.Roopesh Kumar Reddy, learned counsel for the petitioners and learned Assistant Public Prosecutor for the respondent-State.