A SHRINIVASA RAO Vs. STATE OF A P

JUDGEMENT

(1.) This criminal petition is filed under Section 482 of Cr.P.C. to quash the proceedings against the petitioner (A-4) in C.C.No.9 of 2004 on the file of the Metropolitan Sessions Judge-cum-Special Court, Hyderabad.

(2.) The petitioner and other accused were charge-sheeted for the offences under Sections 420, 406 and 477-A of I.P.C. and Sections 3 and 5 of the A.P. Protection of Depositors of Financial Establishments Act, 1999 for allegedly swindling away the money of the depositors to a tune of Rs.2,00,00,000/- and odd. The petitioner is one of the Directors of the Company along with 19 others.

(3.) The learned Counsel for the petitioner submitted that the petitioner is working as a Chartered Accountant in a private company and he co-opted as a Director and he has no active role to play in the company affairs and he is not the incharge of the day to day affairs of the company. He further submitted that there is no averment in the charge-sheet mentioning about his role in the company affairs and it is simply mentioned that the Chairman and Directors are jointly and severally responsible for the monies of the depositors. Except the said sentence, there is no specific allegation against the petitioner that he is responsible for a particular act of mismanagement or any act of cheat or breach of trust in the capacity of a Director, therefore, he requested to quash the proceedings against the petitioner.