Updated Jan 20, 2021 | 10:55 IST
The Andhra Pradesh Crime Investigation Department (AP CID) had filed a case that insider trading took place in land dealings in Amaravati. Representational image of Andhra Pradesh HC
Amaravati (Andhra Pradesh): The Andhra Pradesh High Court on Tuesday quashed an FIR registered by the state Crime Investigation Department (CID) alleging insider trading in land dealings in Amaravati Capital Region.
A bench of Justice Cheekati Manvendranath Roy on Tuesday, while quashing the FIR, observed that right to acquire property was a constitutional and legal right and since the lands were purchased from the sellers who willingly and voluntarily sold them to the petitioners, the said private sale transactions cannot be criminalized.
The Andhra Pradesh High Court on Tuesday quashed an FIR registered by the state Crime Investigation Department (CID) alleging insider trading in land dealings i
HC quashes FIR by Andhra CID alleging insider trading of land in Amaravati ANI | Updated: Jan 20, 2021 09:38 IST
A bench of Justice Cheekati Manvendranath Roy on Tuesday, while quashing the FIR, observed that right to acquire property was a constitutional and legal right and since the lands were purchased from the sellers who willingly and voluntarily sold them to the petitioners, the said private sale transactions cannot be criminalized. The said private sale transactions cannot be criminalized and no criminal liability can be attributed to the petitioners in the facts and circumstances of the case to prosecute them for any offences much less for the offences punishable under Sections 420, 406, 409 and 120-B of IPC.