Hyderabad, Aug. 5 -- The Telangana High Court on Monday, August 4, quashed the criminal proceedings against Margadarsi Financiers. The court allowed the petitions filed by the company, seeking to set aside the criminal case against it.

Margadarsi Financiers had filed an interim application in January 2025, stating that all deposits had been repaid to the depositors and that the former 'karta' of the Hindu Undivided Family (HUF) had passed away. The application argued that the remaining members of the HUF could not be held liable as accused.

The case dates back to 2008 when the then government of unified Andhra Pradesh registered a case against the company based on a complaint that it had collected deposits from the public in violation o...