( 1 ) THIS petition under Section 482 of Cr. PC has been filed for quashing the proceedings in C. C. No. 12 of 1999 on the file of the XI Metropolitan Magistrate, Secunderabad wherein the petitioners are the accused and are prosecuted for the offence under Section 420 of IPC on the basis of the complaint filed by respondent No. 1 herein.

( 2 ) THE relevant facts may be stated briefly : the complainant has been running the business in iron and steel at Boiguda. The complainant supplied stainless steel material worth Rs. 3,65,000. 00. Towards part payment of the same, accused No. 2 who is the Managing Director of accused No. 1-M/s. Raman Tech and Process Engineering Limited issued a cheque for an amount of Rs. 2,50,000. 00. After issuing of cheque, accused No. 2 made certain part payments towards remaining balance amount payable to the complainant. On being asked to do so by accused No. 2, the complainant presented the cheque in their Bank, namely, Vardhaman Mahila Co-operative Bank for realisation of the amount on 7-5-1997 and the said cheque has been sent back without realisation of the amount on the ground of insufficiency of funds on 8-5-1997. The complainant got i