( 1 ) THIS is an appeal filed against the acquittal recorded by the V matropolitan Magistrate, Hyderabad in C. C. No. 737 of 1999, dated 13-1-2004 acquitting the respondent-accused.

( 2 ) THE appellant herein is the complainant and the first respondent herein is the accused in C. C. No. 737 of 1999 and therefore they will be referred hereinafter in this judgment as appellant and accused respectively.

( 3 ) THE relevant facts in brief are as follows : the complainant filed complaint before the V Matropolitan Magistrate, Hyderabad against the accused alleging that the accused was running Chit Fund Company in the name of Swapna Chits and Finance private Limited at Ameerpet. Hyderabad in the name of his brother Sri V. Satyanarayana who is the Executive Director and one G. S. Reddy was the Managing Director and at the instance of the accused, the complainant joined as subscriber in various chits and when chit amounts were due in the above chits the accused took those amounts and further the accused also borrowed an amount of Rs. 2 lakhs in cash from the complainant and thus the accused took a loan of Rs. 3 lakhs from the complainant and executed two promissory notes dated 15-8-1999 for

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