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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
TIRUMALA DEVI EADA
Gunda Prakash Rao, S/o. Rajamouli – Appellant
Versus
State of Telangana, Rep. by its Public Prosecutor, High Court for the State of Telanganna, Hyderabad – Respondent
| Table of Content |
|---|
| 1. petitioner seeks to quash proceedings under tspdfe act. (Para 1) |
| 2. arguments regarding applicability of tspdfe act to chit fund transactions. (Para 3 , 4 , 6 , 9 , 10 , 11 , 12 , 21) |
| 3. clarification on dual applicability of laws. (Para 7 , 13 , 18) |
| 4. legal definitions and implications of tspdfe act and chit fund act. (Para 8 , 14 , 15 , 17 , 19 , 20) |
| 5. petition is dismissed; proceedings not quashed. (Para 22) |
ORDER :
TIRUMALA DEVI EADA, J.
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 Sections 420, 406 read with 34 IPC 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 registered under Sections 420, 406 read with 34 IPC and Section 5 of the TSPDFE Act and that the said Act does not get attracted to the present case
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.
Chit fund transactions are classified as financial establishments under the TSPDFE Act, allowing for prosecution alongside Cheating provisions in BNS.
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