Dasari Prasad And Another vs State Of AP., Rep. By Its Public Prosecutor

K.Suresh Reddy, J

Accused Nos.1 and 2 in Crime No.226 of 2023 of Tenali III Town Police Station, Guntur district, filed the present application, under Section 438 Cr.P.C., seeking anticipatory bail.

The said crime was registered for the offences punishable under Sections 420, 467 and 471 read with 34 IPC.

Case of the prosecution is that the de facto complainant has joined as a subscriber in Margadarshi Chit Fund Private Limited in Chit Group No.FT 018B TL and he was given Token No.14. The total chit value is Rs.2,00,000/- with a duration of 40 months and monthly subscription is Rs.5,000/-. It is alleged by the de facto complainant that he paid 28 instalments and on 29th instalment he participated in the auction and he became the successful bidder. It is alleged by the de facto complainant that he is entitled to receive an amount of Rs.1,89,000/-, instead he was paid only Rs.1,21,000/-. It is further alleged that the petitioners have deducted an amount of Rs.68,000/- towards future instalments instead of taking security for the future instalments, contrary to the terms of the agreement. On the basis of the said allegations, the present crime has been registered.

Sri Posani Venkateswarlu, learned Senior Counsel, appearing for Sri P. Sai Surya Teja, learned counsel for the petitioners, contends that there is no doubt that the DE FACTO complainant became the successful bidder and after deducting Rs.100/- he is entitled to receive Rs.1,89,000/-, but there are 11 more months, which he has to pay the subscription. As per the terms of the agreement, before taking the amount the de facto complainant has to furnish security towards the future instalments. The same was informed to the de facto complainant, by letter dated 06.06.2023 requesting him to arrange security for future instalments. As the de facto complainant did not come forward to provide security, the amount was deposited into his account by deducting the future instalments on the request made by the de facto complainant. After deducting the future instalments, the petitioners deposited an amount of Rs.1,37,903/- into the account of the complainant, which was withdrawn by him. The de facto complainant also issued another letter to the company stating that there are no claims against the company from him.

In view of the above facts and circumstances, as the petitioners have already paid the entire amount, which was accepted by the de facto complainant, this Court is inclined to grant anticipatory bail to the petitioners/A1 and A2 on the following conditions.

i) In the event of arrest of the petitioners/A1 and A2 in the aforesaid crime, they shall be enlarged on bail on their executing personal bonds for a sum of Rs.10,000/- (Rupees Ten Thousand only) each with two sureties of the like sum each to the satisfaction of the concerned Arresting Officer.

ii) Petitioners/A1 and A2 shall cooperate with the investigation and they shall make themselves available for interrogation by a police officer as and when required, and they shall not, directly or indirectly, make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the Court or to any police officer.

The Criminal Petition is, accordingly, allowed.