L. SHAILAJA Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Criminal Petition is filed under Sec. - 482 of the Code of Criminal Procedure, 1973 (for short, 'the Cr.P.C.') to quash the proceedings in Cr. No. 344 of 2020 of Nacharam Police Station, Ranga Reddy District. The petitioners are accused Nos. 1 to 4 in the said crime. The offences alleged against them are under Secs. 420, 406 and 506 of IPC.

(2.) Heard Sri B,.Shiva Ram Sharma, learned counsel for the petitioners, Sri Khaja Vizarath Ali, learned Assistant Public Prosecutor for the 1st respondent " " State and Sri Rakesh, learned counsel, representing M/s Resu Law Office, appearing for the 2nd respondent. Perused the record.

(3.) The allegations against the petitioners in the complaint dtd. 2/9/2020 lodged by the 2nd respondent are that the 1st petitioner/A.1 is wife of 4th petitioner/A.4 and the 4th petitioner is father of 2nd and 3rd petitioners/A.2 and A.3. 2nd respondent, 1st and 2nd petitioners are the Managing Partners of M/s Seiko Polyclosures, situated at No.11-8/A-1, Nacharam. The 1st and 2nd petitioners have resorted to several illegal activities with selfish intention and cheated him and his another partner who is his sister-in-law by name L.Divya, wife of L.Kranti Kumar. They entered into partnership agreement in 2013 in respect of manufacturing Plastic products and started business. He worked with dedication right from the beginning and developed the company. He invested a sum of one Crore in the said company. He also mortgaged two houses of his parents' with the A.P. State Finance Corporation (APSFC), Abids, Hyderabad for obtaining machinery loan, as collateral security. 1st and 2nd petitioners have started a benami company in the name and style of 'Viswin Plastic Traders' in the name of his younger brother L.Naveen Kumar, and diverted the business of this company to it. They are avoiding his company's transaction amounts, and doing business with 'Viswin Plastic Traders'. They did every illegal activity in the premises of M/s Seiko Polyclosures Company. They did under-billing of the products and avoided the monies obtained by selling the company products to clients and diverting the cash amounts to the personal accounts of the Petitioner Nos.2 to 4/A.2 to A.4 maintained in other banks. The amounts obtained by selling his company products to the clients located in several districts and other States, are being made to be credited to their personal and other bank accounts. Thus the petitioners have committed money laundering and havaala activities. They are selling the company products without issuing bills directly selling to the customers and are not showing the GST, IT and other amounts. The petitioner Nos.2 to 4 are receiving money directly from the customers and some times through company workers. The petitioners have not shown the sale amount to a tune of Ten Crores and evaded the tax payable to the Government, and thus minting black money. They are submitting false details to the Income Tax Department and deceived the Government. The petitioner Nos.1 and 2 committed breach of trust and other economic offences like minting black money by evading tax.