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AP HC quashes FIR filed by ACB in Amravati Insider Trading!
By: Tupaki Desk | 2 Sep 2021 1:31 PM GMT
As a big relief to former advocate general Dammalapati Srinivas, the Andhra Pradesh High Court on Thursday had quashed the case filed against him in connection with the alleged insider trading in Amaravati, the region proposed as the capital by the previous government.
Hearing a petition, the division bench of the Andhra Pradesh High Court had quashed the FIR filed by the ACB. The FIR was filed against Dammalapati Srinivas, his kin, and few others. They received a big relief in the case with the Court’s decision.
Reports say that the High Court felt that the cases and FIR filed against them have caused mental agony. For this, the former advocate general of Andhra Pradesh was given permission to file cases against the government.
The High Court quashing the FIR should be seen as a big blow to the Andhra Pradesh government in this alleged insider trading issue. Earlier too, the state government faced severe blows regarding the issue.
When the Andhra Pradesh government had moved the Supreme Court in this regard earlier, the Apex Court said the term insider trading cannot be used in land dealings. The Supreme Court was satisfied with the High Court's observations and rejected the petition.
Hearing a petition, the division bench of the Andhra Pradesh High Court had quashed the FIR filed by the ACB. The FIR was filed against Dammalapati Srinivas, his kin, and few others. They received a big relief in the case with the Court’s decision.
Reports say that the High Court felt that the cases and FIR filed against them have caused mental agony. For this, the former advocate general of Andhra Pradesh was given permission to file cases against the government.
The High Court quashing the FIR should be seen as a big blow to the Andhra Pradesh government in this alleged insider trading issue. Earlier too, the state government faced severe blows regarding the issue.
When the Andhra Pradesh government had moved the Supreme Court in this regard earlier, the Apex Court said the term insider trading cannot be used in land dealings. The Supreme Court was satisfied with the High Court's observations and rejected the petition.
