ORDER:

This Criminal Petition is filed by the petitioner/accused No.1 (A.1) under Section 482 of the Code of Criminal Procedure, 1973 (for short ‘Cr.P.C.’) to quash the proceedings against him in C.C.No.7 of 2015 on the file of Principal Special Judge for CBI Cases, Hyderabad. The offences alleged against the petitioner are under Sections 120-B, 409, 420, 465, 471, 477-A of Indian Penal Code (for short ‘IPC’) and under Section 13 (2) r/w.13 (1) & (d) of the Prevention of Corruption Act, 1988.

2. The facts of the case are that the General Manager of the 2nd respondent-M/s.Mineral and Metal Trading Corporation (MMTC) who is the defacto complainant gave complaint alleging certain irregularities with regard to the gold transactions committed by the officials of MMTC in connivance with private persons causing wrongful loss to a tune of Rs.194.4 Crores to MMTC and alleged the following irregularities :

“(i) That the exposure started from September 2011. However, GM, MMTC Hyderabad, vide his message dt. 14.12.2011 informed for the first time a figure of Rs.43.44 crore as exposure on account of MBS Group. The actual position was concealed in his message since the exposure stood at Rs.72.68 cr