SHAMSHAD Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) This Criminal Petition has been filed under Section 482 of Cr.P.C. by A-5 to A-7 in Crime No.192 of 2003 on the file of the Station House Officer, Gajuwaka Crime Police Station, Visakhapatnam City.

(2.) The case was filed against the petitioners and other accused for the offences punishable under Sections 420 and 406 of I.P.C. The petitioners and other accused were doing banking business by way of collecting deposits from various customers. The allegation in the complaint is that the petitioners and other directors of the company started collecting the money from 1999 onwards and issued various fixed deposit receipts. ' After the maturity period, they failed to pay the amount, therefore, the complainant contended that they cheated the customers and committed breach of trust.

(3.) The petitioners contended that though the company started collecting the deposits from 1999 onwards, the petitioners were not the directors of the company as on the date of collection of the deposits and they retired from the directorship of the company on 03-08-1992, which is evidenced by Form No.32, which is indicating the changes among the directors of the company, which is also having seal of the Registrar of Companies, dated 12-01-1993.