Telangana High Court
Chintalapati Srinivasa Raju vs Securities And Exchange Board Of India on 23 September, 2022
Author: D.Nagarjun
Bench: D.Nagarjun
THE HON'BLE Dr. JUSTICE D.NAGARJUN
CRIMINAL PETITION No.2459 OF 2019
ORDER:
This Criminal Petition is filed under Section 482 of the Code of Criminal Procedure by the petitioner-accused No.11 to quash the proceedings initiated against him, in C.C.No.134 of 2014 pending on the file of the learned Special Judge for Economic Offences, Hyderabad, the cognizance of which is taken for the offences under Section 12A of the Securities and Exchange Board of India Act, 1992 read with Regulation 3(i) and 3(ii) of the SEBI (Prohibition of Insider Trading) Regulations, 1992.
2. Sri Aditya Bhupathi Raju, learned counsel for the petitioner as well as Sri Kaushik Soni, learned counsel representing the respondent are present. Both of them have stated that during pendency of this criminal petition, the case against this petitioner/accused No.11 and accused Nos.7 to 10, 12 and 13 was dismissed as withdrawn and they are acquitted of the charges leveled 2 against them. The respondent/complainant has filed the copy of e-Courts proceedings to substantiate the same.
3. In view of the above submission, since the very purpose of filing this criminal petition has already been fulfilled on account of the petitioner-accused No.11 being acquitted by the trial Court, no cause survives in this petition and thereby the Criminal Petition has become infructuous and liable to be dismissed.
4. Accordingly, the Criminal Petition is dismissed as infructuous.
Pending Miscellaneous Applications, if any, shall stand closed.
_____________________ Dr. D.NAGARJUN, J Date: 23.09.2022 svl