DASARI PRASAD Vs. STATE OF AP

JUDGEMENT

(1.) Accused Nos.1 and 2 in Crime No.226 of 2023 of Tenali III Town Police Station, Guntur district, filed the present application, under Sec. 438 Cr.P.C., seeking anticipatory bail.

(2.) The said crime was registered for the offences punishable under Ss. 420, 467 and 471 read with 34 IPC.

(3.) Case of the prosecution is that the de facto complainant has joined as a subscriber in Margadarshi Chit Fund Private Limited in Chit Group No.FT 018B TL and he was given Token No.14. The total chit value is Rs.2,00,000.00 with a duration of 40 months and monthly subscription is Rs.5,000.00. It is alleged by the de facto complainant that he paid 28 instalments and on 29th instalment he participated in the auction and he became the successful bidder. It is alleged by the de facto complainant that he is entitled to receive an amount of Rs.1,89,000.00, instead he was paid only Rs.1,21,000.00. It is further alleged that the petitioners have deducted an amount of Rs.68,000.00 towards future instalments instead of taking security for the future instalments, contrary to the terms of the agreement. On the basis of the said allegations, the present crime has been registered.