THE HON’BLE SRI JUSTICE G.BHAVANI PRASAD CRIMINAL PETITION No.7106 of 2009 DATED:10.09.2009 Between: K.Saidaiah Naidu .. Petitioner And The State of Andhra Pradesh, rep., by its Public Prosecutor, High Court of Andhra Pradesh, Hyderabad and another .. Respondents THE HON’BLE SRI JUSTICE G.BHAVANI PRASAD CRIMINAL PETITION No.7106 of 2009 ORDER: Heard Sri M.Achutha Reddy, learned counsel for the petitioner, and Sri A.Ramesh, learned counsel representing the learned Public Prosecutor for the first respondent. No notice is being ordered to the second respondent, as the matter is being disposed of at the stage of admission. Cr.No.151 of 2009 on the file of the Central Crime Station, Hyderabad was registered on the report of the Chief Manager of Andhra Bank about withdrawal of rupees 5.40 crores fraudulently from the account of the Andhra Pradesh State Finance Corporation. The Assistant General Manager and Manager of the Andhra Pradesh State Finance Corporation were named as suspects at the time of the registration of the crime and the subsequent investigation by the statutory investigating agency appears to have disclosed the possible involvement of the petitioner herein and others in the whole episode. As seen from the copies of the remand reports and the confessional statements, the offences involved are grave, huge sums of public funds are involved and the statutory investigation is in progress to unearth the real culprits involved in a crime of such magnitude. Any premature interference with the process of investigation by taking recourse to the inherent jurisdiction of this Court, which is available only in the rarest of rare cases, cannot be considered in the interests of justice. It may be true that as of now only the confessional statements of accused Nos.2 and 3 appear to be providing the link between the petitioner and the crime, but when the investigation is still half-way through, it cannot be said that there is no possibility of the investigating agency being able to secure admissible and reliable evidence about the involvement of the petitioner in the alleged fraud. The approach of the petitioner to the Court to quash the proceedings in the midst of investigation appears to be clearly unsustainable and premature and judicial discretion of this Court cannot be exercised in favour of any interim intervention on the facts and circumstances. The Criminal Petition, therefore, clearly appears to be unsustainable. Accordingly, the Criminal Petition is dismissed. ___________________ G. BHAVANI PRASAD, J 10th September 2009 KH