IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD THURSDAY, THE THIRD DAY OF NOVEMBER TWO THOUSAND AND ELEVEN PRESENT THE HON'BLE SRI JUSTICE B.N.RAO NALLA CRIMINAL PETITION No.12159 of 2010 Between: M/s.Sri Sai Mourya Estates and Projects Pvt.Ltd. Rep.by its Authorised Director I.Praveen Reddy And 9 others ..... PETITIONERS/A1 to A4 & A7 to A12 And The State of A.P. through Public Prosecutor High Court of A.P. Hyderabad and another .....RESPONDENTS The Court made the following: THE HON'BLE SRI JUSTICE B.N.RAO NALLA CRIMINAL PETITION No.12159 of 2010 ORDER: A1 to A4 & A7 to A12 in Cr.No.1319/2010 on the file of P.S.Banjara Hills, Hyderabad filed this criminal petition u/sec.482 Cr.P.C seeking to quash the proceedings in the said crime. The petitioners/A1 to A4 & A7 to A12 along with other accused have been charged for the offences punishable under Secs.406, 420, 120-B and 506 r/w.Sec.34 of IPC. Heard both sides. The learned counsel for the petitioners submits that initially when the 2nd respondent/de facto complainant lodged a complaint before the P.S. Banjara Hills, the concerned police have refused to take the complaint, as no case was made out against the petitioners herein and other accused. Thereafter, the 2nd respondent filed a private complaint before the III Additional Chief Metropolitan Magistrate, Nampally, Hyderabad, and the learned Magistrate referred the same for investigation under Sec.156(3) Cr.P.C. to P.S.Banjara Hilla, and the Banjara Hills P.S. registered the above crime against the petitioners and others. The learned counsel for the 2nd respondent/de facto complainant submits that the petitioners herein and other accused induced the 2nd respondent/de facto complainant to invest huge amounts by purchasing shares in the A1-Company by making false promises that she would get huge profits and dividends, and in that said process, they made the complainant to invest an amount of Rs.3,61,800/- in the A1-Company, and thereby deceived and cheated the 2nd respondent/complainant. The learned Additional Public Prosecutor submits that there are disputes between the parties about the purchase of shares and getting of profits and dividends from A1-Company, and the investigation is in progress. In view of the facts and circumstances of the case, this Court is of the view that it is not a fit case to quash the proceedings in the aforesaid crime against the petitioners/A1 to A4 & A7 to A12. The Criminal Petition is accordingly dismissed. Miscellaneous Petitions filed in this Criminal Petition, if any, shall stand closed. ____________________ B.N.RAO NALLA,J Dated: 03.11.2011 Dsr