THE HONOURABLE SRI JUSTICE RAJA ELANGO CRIMINAL PETITION No.11192 of 2011 ORDER: The petitioners-Accused Nos.6 and 7 approach the Court with a prayer to quash the proceedings initiated against them in Special S.C. No.1 of 2010 on the file of the District and Sessions Judge, Kadapa, for offences punishable under Sections 420 of I.P.C.; Sections 3,5(2), 6 of A.P. Money Circulation Schemes (Prohibition) Act; Section 5 of A.P. Protection of Depositors of Financial Establishments Act and 74 of Income Tax Act in terms of the compromise entered into between them and the 2nd respondent-complainant. 2. Heard both sides. 3. Today, the petitioners-Accused and the 2nd respondent-complainant, Sri Mothukuru Subbarao are present. It is reported by the complainant that the matter is settled out of Court between him and the petitioners- accused at the intervention of elders and a memorandum of understanding was entered into between them and the complainant also filed an affidavit to that effect. He further submitted this Court has already quashed the proceedings in so far as another accused, namely, Siddi Hanumantha Reddy in respect of the very same crime vide order dated 14.7.2009 in Crl.P. No. 8732 of 2008. As the alleged offences are punishable under Sections 420 of I.P.C.; 3,5(2), 6 of A.P. Money Circulation Schemes (Prohibition) Act; 5 of A.P. Protection of Depositors of Financial Establishments Act and 74 of Income Tax Act and as the matter is settled between the parties, they prayed for compounding the offences in terms of the memorandum of understanding entered into between them. 4. Accordingly, the Criminal Petition is allowed and the proceedings initiated against the petitioners-Accused Nos. 6 and 7 in Special S.C. No.1 of 2010 on the file of the District and Sessions Judge, Kadapa, are hereby quashed. _________________ RAJA ELANGO, J. Date: 10th November, 2011 pnb