1. This Criminal Petition, under Section 482 Cr.P.C. is filed by the petitioners/A.1 to A.4 to quash the proceedings in Crime No. 500/2011 of Vijayawada City Police Station I Town (Law and Order), Vijayawada, registered against them for the offences punishable under Sections 403 and 420 IPC.

2. The brief facts of case are that the 2nd respondent/complainant and his brother, K. Ravi Kumar are doing Gold business under the name and style of Swathi Jewellery at Sivalayam Street, Vijayawada, and A.1 and A.2 were working with the complainant and his brothers shop. After some time, A.1 and A.2 started a new business in Gold with the financial support and aid of the complainant and his brother. A.1 and A.2 took two Gold Biscuits and cash of Rs. 32,00,000/- from the complainants brother. In that connection, they issued some cheques in the name of the complainant and his brother along with some pro-notes and promised to repay the said amounts within a short period. Inspite of repeated demands, A.1 and A.2 failed to repay the said amount and it was revealed that they are not maintaining any Bank Account since the date of transaction. A.1 and A.2 with a mala-fide intention and motivatio