1. These four original petitions are filed to quash the proceedings in C.C. No. 3848 of 2000, 3846 of 2000, 3847 of 2000 and 3845 of 2000 respectively.

2. The petitioners state in their affidavits as follows: The petitioners herein were directors of the Royapettah Benefit Fund Nidhi Limited, (hereinafter referred to as "RBF Nidhi), a company incorporated under the Companies Act. The petitioners were whole - time Fee-Directors receiving Salary without any eligibility in respect of profits or dividends. The administration of the functions of the said RBF Nidhi are regulated by the Companies Act and Rules. Due to mis application of funds by interested persons, the administration of the funds of the said RBF Nidhi came to shambles and it resulted in postponement and delay in payment of the dues to the depositors. During the second week of December, 1999, the position became critical to satisfy the demands of the depositors. A case under Sections 420, 408 and 120-B of I.P.C. was registered on a complaint by one of the depositors. The petitioners were arrested and, subsequently, released on bail. The petitioners were also taken in custody to Hyderabad, Visakhapatnam and other place