Annam Leela Sundaram Vs State of Telangana (Telangana High Court)
The Telangana High Court considered a criminal petition filed under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 seeking anticipatory bail in connection with FIR No.54 of 2026 registered at Central Crime Station Police Station, Hyderabad. The offences alleged were under Sections 316(5), 336(3), 340(2), 344 read with 61(2) of the Bharatiya Nyaya Sanhita, 2023.
According to the complaint, the defacto complainant and his wife established M/s Vannsh Life Sciences Private Limited in 2016 at Visakhapatnam for manufacturing cancer-related medicines and began operations in December 2018. The complainant acted as Managing Director, while a Chartered Accountant was appointed as Statutory Auditor and another individual as Finance Officer to manage the company’s financial and statutory affairs. A Japanese company later acquired 30% shareholding, while the complainant and his wife retained 70% shares.
The complainant later discovered that his and his wife’s shareholding had reduced from 70% to 51%, while 9.5% shares each had allegedly been transferred in favour of the Finance Officer and another individual without his consent or knowledge. It was alleged that share certificates were split and transferred on 20.04.2022 without authorization and that a Company Secretary, who was appointed only on 10.01.2023, had authenticated the documents despite not holding office at the relevant time. The complainant alleged fraudulent transfer of 19% shareholding without consideration, consent, or valid documentation, amounting to offences including cheating, criminal breach of trust, forgery, falsification of records, and criminal conspiracy.
