ORDER

P. Swaroop Reddy, J.—This petition is filed by the petitioners accused for quashing the proceedings pending against them in CC No. 181 of 2009 on the file of the learned XIX Additional Chief Metropolitan Magistrate, Hyderabad. The offence alleged is one under the Negotiable Instruments Act.

2. The present second respondent, filed the complaint under Section 138 of the Negotiable Instruments Act, against the petitioners contending that with regard to certain land transactions, the petitioners became due certain money to the complainant; the petitioners who received Rs.10,00,000 agreed to return the same with interest @ 24% per annum and for the total sum of Rs.11,44,000 they issued two cheques on 14.10.2004 drawn on Bank of India, Kachiguda Branch, Hyderabad, in favour of the second respondent in full and final settlement of the dues, in view of the settlement. When both the cheques were presented for encashment, they were returned for want of. fund, Then the complainant got issued legal notice on 25.10.2004 to both the petitioners informing about the dishonour of the cheques and demanding the due amount under the cheques, which were received by the petitioners/accused. Therea