MARGADARSI FINANCIERS Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) These two Criminal Petitions, under Sec. 482 of Cr.P.C. are filed by the self same Petitioners/Accused, separately, seeking to quash the order, dtd. 1/7/2011, passed in Crl.M.P. No.885 of 2010 (hereinafter referred to as 'the IA') in C.C. No.540 of 2008, and also to quash the proceedings in C.C. No.540 of 2008, on the file of the Court of I Additional Chief Metropolitan Magistrate, Hyderabad (for short, 'the trial Court'), by virtue of which, the trial Court dismissed the Petition i.e., Crl.M.P. No.885 of 2010, filed under Ss. 218 and 219 of Cr.P.C. seeking to restrict their examination under Sec. 251 of Cr.P.C. to any three offences either under Sec. 45S(1)(i) and/or 45S(ii) punishable under Sec. 58E of the Reserve Bank of India Act, 1934 (For short, 'the RBI Act').

(2.) Heard Sri Siddharth Luthra, learned senior counsel, appearing on behalf of Sri B.Nalin Kumar, learned counsel for the petitioners, and learned Public Prosecutor, appearing for the respondent - State.

(3.) The complaint, which is taken on file as C.C No.540 of 2008, is filed against M/s.Margadarsi Financiers, showing it as a proprietary concern, and one Sri Ch.Ramoji Rao, seeking for their prosecution under Ss. 45S(1)(i) and (ii) and Sec. 45S(2) of the RBI Act, punishable under Sec. 58(B)(5A) R/w. Sec. 58(E) of the RBI Act.