C. Y. SOMAYAJULU, J.

( 1 ) SECOND respondent filed a private complaint against the petitioners and others alleging that the accused who entered into an agreement on 20-1-1995 to purchase a multi-layer coated boards manufacturing machine for Rs. 380. 00 lakhs on ex-works basis, took bank guarantees and post dated cheques as security for due performance of the contract, and that as per the terms agreed between them those bank guarantees and post dated cheques have to be returned on pro-rata basis on the basis of the supplies made and even after it supplied the machinery worth Rs. 380. 00 lakhs, the accused who paid the price of Rs. 380 lakhs, as agreed, had, with a view to defraud it, presented some of the cheques which have to be returned to it as per the understanding, for payment and when those cheques were dishonoured, accused not only launched criminal prosecution against it but had also, fraudulently, invoked the bank guarantees without returning them, and hence are liable for punishment under Sections 120-B, 406, 417,418 and 420 read with 34 IPC. The said complaint was referred to police for investigation under Section 156 (3) Cr. P. C. by the learned Magistrate. The police, af

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