GUNTUPALLI SRINIVAS RAO Vs. STATE OF TELANGANA

JUDGEMENT

(1.) Petitioners/Accused Nos.1 and 2 have filed this petition under Sec. 438 of Cr.P.C., seeking anticipatory bail in Cr.No.145 of 2024 of P.S. INSP ADMIN (DD), registered for the offences under Ss. 406 and 420 of IPC and Sec. 5 of the Telangana State Protection of Depositors of Financial Establishments Act, 1999 (for short "the TSPDFE Act").

(2.) Heard Sri Y. Soma Srinath Reddy, learned counsel for petitioners and the learned Additional Public Prosecutor appearing for the State.

(3.) The case of the prosecution is that the petitioners herein are wife and husband and are running a real estate Company under the name and style of "M/s.EVK Projects Pvt. Ltd." The complainant/Mr.Raghavendar and another person by name Mr.T.Anil Kumar have approached the petitioners for purchase of two villas called "EVK Shri Shilpa" at Shankerpally, at the rate of Rs.70.00 Lakhs each and entered into a Memorandum of Understanding on 27/10/2021. Thereafter, the petitioners informed the complainant that they lost the site and would refund money within six months as per the agreement dtd. 27/10/2022, but they did not refund the amount as agreed, and thus, cheated them.