BEJJANKI SURESH Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Criminal Petition is filed by the petitioneraccused No.2 seeking to quash the proceedings against him in FIR/Crime No.36 of 2022 on the file of the Station House Officer, Vemulawada (T) Police Station, RajannaSircilla District, registered for the offence under Sec. 420 of the Indian Penal Code (for short 'IPC').

(2.) Heard Sri V. Ravi Kiran Rao, learned Senior Counsel representing Sri V. Rohith, learned counsel for the petitioner-accused No.2 and Smt.S.Madhavi, learned Assistant Public Prosecutor for the State-respondent No.1 as well as Sri A.Gangadhar, learned counsel for the unofficial respondent No.2. Perused the record.

(3.) (a). In brief, the case of the prosecution is that the accused No.1 approached the father of respondent No.2 late Moturi Shankaraiah, in August 2018 and requested a hand loan of Rs.6,00,000.00, undertaking to repay the same with interest at the rate of 24% per annum until full realization, for his personal and family needs. Respondent No.2 who was present at that time, alleged that his father agreed to extend the loan on the condition that the accused shall furnish a government employee as surety and provides collateral security. In fulfillment of these conditions, the accused No.1 executed an assurance agreement dtd. 13/8/2018 in the presence of witnesses, and received the said amount from late Moturi Shankaraiah, pledging the original Pattedar Passbook of Badhineni Balaiah and furnishing the personal sureties of petitioner-accused No.2 and the accused No.3 as guarantors on the promissory note and agreement.