AMARAVATI: The Andhra Pradesh High Court on Tuesday had directed the Central Bureau of Investigation to file a counter affidavit in the petitions filed by T Gangi Reddy and G Umashankar Reddy challenging the proceedings issued by Kadapa principal assistant sessions judge allowing Shaik Dasthagiri to turn approver and granting him pardon in YS Vivekananda Reddy murder case. The
Andhra Pradesh High Court strikes down insider trading in Amaravati cases
It was alleged that some people with the prior knowledge of location of the capital, purchased lands at cheaper rates in Amaravati.
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| A+A A- By Express News Service
VIJAYAWADA: The Andhra Pradesh High Court on Tuesday struck down the cases registered by the Crime Investigation Department (CID) alleging insider trading in purchase of lands by some people in Amaravati.
The concept of the offence of insider trading which is essentially an offence in the field of stock market relating to selling and buying the securities and bonds cannot be applied to the offences under Indian Penal Code and cannot be read into Section 420 IPC or into any provisions in the scheme of Indian Penal Code. The said concept of offence of insider trading is totally alien to IPC and it is unknown to our criminal jurisprudence under the Indian Penal Code. So, it cannot even contextually or relatively applied