THE HONOURABLE SMT JUSTICE JUVVADI SRIDEVI CRIMINAL PETITION No.1076 OF 2022

O R D E R

This Criminal Petition is filed by the petitioners-accused Nos.1 and 2 seeking to quash the proceedings against them in C.C.No.18 of 2021 pending on the file of the learned Special Court under the Telangana Protection of Depositors of Financial Establishments Act- cum-Metropolitan Sessions Judge at Hyderabad, registered for the offences under Sections 406 and 420 read with Section 34 of the Indian Penal Code (hereinafter referred as ‘IPC’) and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999 (hereinafter referred as ‘the Act’).

2. Heard Mr. P. Pratap, learned counsel for the petitioners, Mr. Srinivas Polavarapu, learned counsel for respondent Nos.3 and 4 and Smt. S.Madhavi, learned Assistant Public Prosecutor for the State-

respondent Nos.1 and 2. Perused the record.

3. The petitioners-accused Nos.1 and 2, are the husband and wife and they are the Managing Director and Director of M/s. Sri Rishab Chit Fund India Private Limited (hereinafter referred to as ‘Company’), respectively.

4. The case of the prosecution, in brief, is that the petitioners have induced th