STATE OF TELANGANA Vs. C.VISWANATHAM

JUDGEMENT

(1.) This Criminal Revision Case is filed by the State, aggrieved by the order dtd. 11/10/2022 passed by the Metropolitan Sessions Judge, Hyderabad in Crl.M.P.No.543 of 2022 in CC.No.1/2011, refusing the prayer of the State to add the respondent as accused No 3, under Sec. 319 Cr.P.C.

(2.) The case of the prosecution is that about 50 victims approached the Police complaining that Accused Nos.1 and 2 who are the Directors of Garnet Finance Limited have collected Fixed Deposits of Rs.66.71 lakhs. The said amounts were not returned by A1 and A2 though the due dates have expired. The allegation against the respondent herein who was arrayed as Accused No.3 is that he was the Chartered Accountant of Garnet Finance Limited. As a Chartered Accountant he has converted the said finances into Redeemable Preference Shares to an extent of Rs.40.00 lakhs and Rs.20.00 lakhs deposits were converted into Equity Share Capital. The said aspects were not informed to the depositors and it was done without their consent and knowledge. For the reason of helping A1 and A2 for redeeming the preference shares and also converting into equity share capital, the petitioner was arrayed A3 for abetting the offences committed by A1 and A2 in the charge sheet.

(3.) Petitioner preferred discharge application vide Crl.M.P No.793 of 2014 in CC.No.1 of 2011 and the learned Sessions Judge had discharged the petitioner vide order dtd. 19/12/2014. An application was filed under Sec. 319 of Cr.P.C vide Crl.M.P No.543/2022 in CC.No.1/2011 to include this petitioner as A3. Petition was filed after the evidence of PWs.1 to 24 was recorded. The said prayer was refused by the Metropolitan Sessions Judge vide order dtd. 11/10/2022.