ORDER

1. This petition is filed by the petitioner-accused Nos.1 and 2 under Section 482 of Cr.P.C. for quashing the criminal proceedings in C.C. No.34603/2021 pending on the file of 28th Additional Chief Metropolitan Magistrate, Bengaluru, for the offences punishable under Section 138 of Negotiable Instruments Act, 1881 (for short 'NI Act').

2. Heard the arguments of learned counsel for the petitioners and learned counsel for the respondent Nos.1 to 3.

3. The case of the petitioners is that the respondents have filed a private complaint under Section 200 of Cr.P.C. read with 138 of NI Act alleging that the complainant and accused were the directors and share holders of M/s.GRC Infra Private Limited, a company incorporated under the Companies Act, 1956, and both of them were also running the partnership firm in the name of M/s.G.R. Constructions. Later, there was memorandum of understanding and settlement between accused No.2-G. Ramana Babu and the complainant R.M. Eswar Naidu that the partnership firm shall be continued by R.M. Eswar Naidu and accused No.2-Ramana Babu shall retire from the firm and the wife of Eshwar Naidu shall be inducted as partner and they should run the firm in t