Akkim Rama Krishna Reddy v. The State Of Ap.
THE HONOURABLE SRI JUSTICE RAJA ELANGO CRIMINAL PETITION No.10136 OF 2015 ORDER:
This criminal petition under Section 438 of the Code of Criminal Procedure is filed by the petitioners/A.2 and A.3 seeking grant of anticipatory bail in crime No.135 of 2015 on the file of Kavali II Town Police Station, SPSR Nellore District, registered for the offences under Sections 420 and 406 IPC and Section 5 of the A.P.Protection of Depositors of Financial Establishment Act. Heard and perused the material available on record. The allegation against the petitioners herein is that the petitioners are doing chit fund business and offered the people to join as members in the said company to obtain good commission and good profits in chits and deposits and thus, took money from so many people by giving promissory notes and bank cheques as guarantee including the complainant.
Subsequently, when the complainant demanded the petitioners herein to repay the amounts paid to the petitioners and then, the petitioners instead of returning the said amount, induced the complainant to part with an amount of Rs.21 lakhs again and later, the petitioners did not pay any amount to the complainant and thereby, cheated so many people including the complainant.
Learned counsel for the petitioners submits that the petitioners are not doing any chit fund business and they have never committed any offence and that they are law abiding citizens and they are ready to cooperate with the investigating agency. Hence, he prays this Court to grant anticipatory bail to the petitioners herein.
In view of the fact that the allegations made against the petitioners herein are of serious nature, and that custodial interrogation of the petitioners is necessary, this Court is not inclined to grant anticipatory bail to the petitioners herein.
The criminal petition is accordingly dismissed.
Consequently, miscellaneous petitions, if any, pending, shall stand closed. _____________________ JUSTICE RAJA ELANGO 08.10.2015 pln