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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
TIRUMALA DEVI EADA
Gunaa Prakash Rao – Appellant
Versus
State of Telangana – Respondent
| Table of Content |
|---|
| 1. filing of a criminal petition. (Para 1 , 2) |
| 2. arguments concerning applicability of tspdfe act. (Para 3 , 4 , 6) |
| 3. relevant provisions of tspdfe and chit fund act. (Para 5 , 7 , 8) |
| 4. chit fund companies as financial establishments. (Para 10 , 11 , 12) |
| 5. objective of the tspdfe act. (Para 14 , 15) |
| 6. definition of financial establishment under tspdfe act. (Para 16 , 17) |
| 7. operating under two laws; no double punishment. (Para 18 , 19) |
| 8. dismissal of petition based on merits. (Para 21) |
| 9. final dismissal of the criminal petition. (Para 22) |
ORDER:
TIRUMALA DEVI EADA, J.
This Criminal Petition is filed by the petitioner-accused seeking to quash the proceedings in FIR No.567 of 2024 on the file of Hanamkonda Police Station, Warangal District, for the offences under Sections 318(4) read with 3(5) of BNS and Section 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 registere
Chit fund transactions are classified as financial establishments under the TSPDFE Act, allowing for prosecution alongside Cheating provisions in BNS.
Both the Indian Penal Code and TSPDFE Act can coexist in prosecution for offences arising from chit fund transactions, provided definitions within both statutes are met.
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