Andhra Pradesh High Court - Amravati
Naravulu Sreenivasulu vs The State Of Andhra Pradesh on 2 July, 2021
IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI FRIDAY, THE SECOND DAY OF JULY TWO THOUSAND AND TWENTY ONE :-PRESENT: THE HONOURABLE SMT JUSTICE LALITHA KANNEGANTI CRIMINAL PETITION NO: 3356 OF 2021 Between: Naravulu Sreenivasulu, S/o Ramaiah, aged about 44 years, Occ: Cultivation, R/o. Vakyam Village, Balayapalli Mandal, SPSR Nellore District. .. Petitioner/ Accused No.1 AND The State of Andhra Pradesh, through SHO, Kambhamvaripalle PS, rep. by its Public Prosecutor, High Court of Andhra Pradesh. . Respondent Petition under Sections 437 & 439 of Cr.P.C, praying that in the circumstances stated in the memorandum of grounds filed in Criminal Petition, the High Court may be pleased to enlarge the petitioner / Accused No.1 on regular bail in Crime No. 05 of 2018 on the file of Kambhamvaripalle (KV Palle) Police Station, (Addl. J F C M, Piler), Chittoor District. The petition coming on for hearing, upon perusing the Petition and the memorandum of grounds filed in support thereof and upon hearing the arguments of Sri Sreenivasa Rao Velivela, Advocate for the Petitioner and the Asst. Public Prosecutor for the Respondent, the Court made the following. ORDER:
THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI CRIMINAL PETITION NO.3356 of 2021 ORDER:-
This petition is filed under Sections 437 and 439 of Code of the Criminal Procedure, 1973 (for short 'Cr.P.C.') seeking regular bail to the petitioner/A-1 in connection with Crime No.5 of 2018 of Kambhamvaripalle Police Station, Chittoor District for the offence punishable under Section 420 of the Indian Penal Code, 1860 (for short IPC) and Section 5 of Protection of Depositors of Financial Establishment Act, 1999 r/w 156(3) of Cr.P.C (for short PDFE Act}.
2. The case of prosecution is that the present petitioner along with other accused claiming to be the Directors of "ESS Mark Technologies Private Limited, Hyderabad", which is said to be of private company, collected a sum of Rs.11,69,967/- from the informant and further Rs.30,00,000/- from other 10 persons as deposits by giving an assurance and promise to issue shares in their favour and later, they failed to repay the amounts and they failed to issue any share certificates. The petitioner has been in judicial custody since 08.06.2021.
3. Heard Sri Sreenivasa Rao Velivela, learned counsel for petitioner and learned Assistant Public Prosecutor for the respondent-State.
4. Learned counsel for the petitioner/A-1 submits that the petitioner is alleged to. be committed offences punishable under Sections 420 of IPC and Section 5 of PDFE Act. He submits that 3 8 genet Section 5 of the PDFE Act has no application to the facts of the case. Further, as per the complaint, the accused collected deposits from the complainant and others. Believing the words of the accused, they gave Rs,.20.00 lakhs and ever since the money was paid to the accused whenever they requested, they were giving evasive replies and they did not give any share certificates nor monthly interest as promised by them, It is stated that they threatened them with dire consequences when they requested for return of deposits. Learned counsel also placed certificate of incorporation which is of the year 2014-2015. He further submits that the petitioner has resigned in the company and his resignation was accepted on 14.08.2017. He submits that initially the report was given to the police on 01.11.2016 and when the police has not taken any action, they have filed a private complaint. Basing on the private complaint on 23.08.2017 police registered the present crime. He submits that if at all there is any dispute between the parties, it is only civil in nature and the Magistrate without recording any sworn statement of the complainant, police registered the case. Prima facie the allegations in the complaint do not attract the offences under Section 420 IPC and Section 5 of PDFE Act. It is stated that the petitioner is in judicial custody since May, 2021. As the petitioner is ready to cooperate with the investigation, his case may be considered for grant of bail.
5. Learned Assistant Public Prosecutor submits that all the accused have collected the amounts and Section 5 of the PDFE Act can be applied to them. Hence, issuance of notice under Section z 3 = n 41-A of Cr.P.C does not arise as punishment is 10 years for the offence under Section 5 of the PDFE Act.
6. Taking into consideration the fact that the petitioner resigned in the year 2017, as the petitioner is no way connected with the affairs of the company as of now, it cannot be presumed that if the petitioner is enlarged on bail, there is likelihood of tampering the evidence and further taking into consideration the age of the petitioner as he has underwent surgery, this Court deems it appropriate to grant bail to the petitioner.
7. Accordingly, this Criminal Petition is allowed. The petitioner / A-l shall be enlarged on bail in Crime No.S of 2018 of Kambhamvaripalle Police Station, Chittoor District on execution of self bonds for Rs.20,000/- (Rupees twenty thousand only) with two sureties for a like sum each to the Satisfaction of the Court of the Additional Judicial First Class Magistrate, Piler, Chittoor District.
Consequently, miscellaneous applications pending, if any, shall stand closed.
Sd/- M. SRINIVAS ASSISATNT REGISTRAR "
TRUE COPYI ee we Fo SECTION OFFICER
1. The Principal Sessions dudge, Chittoor, Chittoor Distri | oe : : Strict,
2. The Addi. Judicial First Class Magistrate, Piler, Chittoor District. 2 ie elerintendent, District Jail, Chittoor District, ; @ Station House Officer. Kambhamvaripalie Police Statio i istri , n, Chitto
5. One CC to Sri. Sreenivasa Rao Velivela, Advocate [OPUC] oristrck
6. Two CCs to Public Prosecutor, High Court of AP [OUT]
7. One spare copy.
B ae HIGH COURT LK,J DATED:02/07/2021 ORDER CRLP.No.3356 of 2021 ALLOWED