GUNDA PRAKASH RAO Vs. STATE OF TELANGANA

JUDGEMENT

(1.) This Criminal Petition is filed by the petitioner-accused seeking to quash the proceedings in FIR No.123 of 2024 on the file of Hanamkonda Police Station, Warangal, for the offences under Ss. 420, 406 read with 34 IPC and Sec. 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999 (hereinafter referred as 'TSPDFE Act').

(2.) Heard Sri CMR Velu, learned counsel for the petitioner and Sri Jithender Rao Veeramalla, learned Additional Public Prosecutor for the respondent No.1-State.

(3.) Learned counsel for the petitioner has submitted that the present case is registered under Ss. 420, 406 read with 34 IPC and Sec. 5 of the TSPDFE Act and that the said Act does not get attracted to the present case. The contention of the learned counsel for the petitioner is that a chit fund transaction does not amount to collection of deposit and thus, the provisions under the Depositors Act do not get attracted. Therefore, registration of the crime under the said Act would be an abuse of process of law. If that offence is set aside, then the other allegations under Ss. 420 and 406 IPC also do not get attracted against the petitioner as there is no dishonest inducement by the petitioner and that there is no allegation that the petitioner has put the property to his own use to constitute the offence under Sec. 406 IPC. He further submitted that the ingredients of the complaint did not point out that there is dishonest intention of the petitioner from the inception to constitute the offence of cheating under Sec. 420 IPC. Hence, the learned counsel submitted that all the alleged offences cannot be made out from the recitals of the complaint therefore, he prayed to quash the proceedings against the petitioner herein.