BHUMIREDDI AVINASH Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Criminal Petition is filed under Sec. 482 of the Code of Criminal Procedure, 1973 (for short 'Cr.P.C.') by the petitioner/accused No.3 seeking to quash the proceedings against him in C.C.No.70 of 2022 dtd. 26/8/2022 on the file of the Metropolitan Sessions Judge, Cyberabad, Ranga Reddy District, at LB Nagar, for the alleged offences punishable under Sec. 420 of the Indian Penal Code, 1860 (for short 'IPC'), Sec. 66-D of the Information and Technology Act, 2000 (for short 'Act, 2000') and Sec. 3 of the Protection of Depositors and Financial Establishment Act, 1999 (for short 'Act, 1999').

(2.) The brief facts of the case are that on 1/10/2020 the respondent No.4 lodged a complaint stating that he saw an advertisement about STEMCOR MAX HEDGE application and its website www.stemocromaxhedge.com in Google and when he contacted the mobile numbers shown thereof viz., +44-1474770338, +44-13222522443 he was given a briefing about the app related to online marketing through which the customers make their investments and the Company in turn refunds the 5% of the said amount as commission on everyday basis upto 60 working days and in case, the primary customer gets any other customer through him, then 10% commission would be given to him on his investment. The said briefing was given to the respondent NO.4 through mail ID i.e., info@stemcormaxhedge.com and also through WhatsApp. Thereafter, the respondent NO.4 believed in the policy of the Company and through the payment gateway of the website of Company, he invested an amount of Rs.1,60,000.00 through his Andhra Bank Account bearing Ac.No.052410100108336. He made investments from 6/9/2020 to 14/9/2020. Later, as per the policy of the Company, the respondent No.4 was supposed to receive the refund amount but he received refund of Rs.15,320.00 only, as such, when he tried to contact the Company through their WhatsApp numbers and mail-IDs, there was no response from the end of Company. That being so, the respondent No.4 realized that a fraud was played with him by the Company and that the management of STEMCORE MAXHEDGE APP cheated him and lured Rs.1,44,680.00.

(3.) On receipt of the said complaint, the Police investigated the case and upon completion of the investigation, a charge sheet was filed against four accused persons who worked for STEMCORE MAX HEDGE app. Aggrieved thereby, the accused No.3 filed this Criminal Petition praying to quash the proceedings against him.