SUMITH GUPTA Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Criminal Petition is filed under Sec. 482 of Code of Criminal Procedure, 1973 (for short 'Cr.P.C.') to quash the proceedings against the petitioners/accused Nos.3, 4 and 6 in C.C.No.7916 of 2020 on the file of the learned VIII Additional Chief Metropolitan Magistrate, Hyderabadfor the offences punishable under Ss. 420 and 406 of Indian Penal Code, 1860.

(2.) The brief facts of the case are that on 20/7/2019 the defacto complainant filed a complaint against M/s SRK Food Products Pvt. Ltd., and its Directors namely Harish Gupta, Prathibha Devi, Priyanka Gupta, and Sumeet Gupta. Kumar, who was the company's legal adviser, alleged that he was deceived to invest ?50 lakh (?20 lakh on June 10, 2016, and ?30 lakh in December 2017) in the company. The Directors issued cheques from Karur Vysya Bank, Champapet Branch, which bounced on July 12, 2019, due to signature mismatch and payment stoppage. Realizing he was cheated, he requested action against the accused, who allegedly had pending cases in various courts for similar fraud.Basing on the said complaint, the Police registered a case in Crime No.158 of 2019 for the offences punishable under Ss. 420 and 406 of IPC and after completion of investigation they filed charge sheet vide C.C.No.7916 of 2020 before the learned VII Additional Chief Metropolitan Magistrate, Hyderabad.

(3.) Heard Sri Aadesh Varma, learned counsel for the petitioner as well as Sri BabujiTemmeti, learned counsel for the respondent No. 2 and Sri D. Arun Kumar, learned Additional Public Prosecutor for respondent No. 1- State.