A.N. Venugopal Gowda, J.

1. On a complaint filed by the second respondent, on 23.10.2008, the first respondent registered FIR in Crime No. 314/2008. After investigation, charge-sheet was filed. Cognizance having been taken for the offences punishable under S. 420 read with S.34 of IPC, C.C. No. 11008/2010 was registered and process was issued to Nagappa S/o. late Ramachandraiah and the petitioners herein. Seeking quashing of the said proceedings, this petition under S. 482 of Cr.P.C. was filed. The second respondent has instituted O.S. No. 26955/2010 on 18.11.2010 against all the accused, to pass a decree directing the defendants to pay jointly and severally Rs. 13,78,000/- with interest at 18% p.a. The suit is pending on the file of Addl. City Civil and Sessions Judge, Bengaluru City.

2. The cause of action for the abovesaid proceedings is an Agreement of Sale dated 19.11.2007, between the complainant and the first accused/first defendant - Nagappa S/o. Late Ramachandraiah, and the subsequent actions in relation thereto.

3. Sri. B.S. Prasad, learned advocate, contended that no case having been made out for the offence under S. 420, IPC and the essential ingrethents of cheating