S.Y. SRIKUMAR Vs. M.SAI EAHWAR SWAMY

JUDGEMENT

(1.) The petitioner filed written complaint before the WCO-Team-V, CCS, Hyderabad, which was registered as Crime No.176 of 2008 under Ss. 403, 406, 418, 420, 465, 477 r/w 34 of IPC.

(2.) Briefly, the case of the petitioner is that he was director in the company namely M/s.Vision Broadband Service Private Limited during the period from 2005-2007. The company was incorporated in the year 2005 and his share was 33%. The 1st respondent/A1 used to look after the day to day affairs of the company. During the year 2005-2006, the turnover of the company was Rs.1.09 Crore and during the year 2006-2007, it was Rs.3.00 Crores. The 3rd respondent was auditing the accounts of the company. In 2007, APIIC allotted Acs.2.00 of land to the company at the cost of Rs.1.20 Crores. It is alleged that there were several irregularities regarding the finances in the company. There was Vigilance department raid on the company for tax evasion and all the accounts books of the company were seized. During December 2007, complainant came to know that the shares were allotted to respondent Nos.4 to 20, who are A4 to A20 and his share was reduced from 33.34% to 1%.

(3.) The Petitioner/complainant/Director was not informed about any proceedings in the company. Having taken the copies of documents from the Vigilance Department under Right to Information Act, he found that the accounts were not maintained properly and the company used to maintain two sets of accounts. Accordingly, the petitioner was cheated by the other members, who are the respondents/directors of company.