1. Accused Nos. 2 and 3 in criminal proceedings under Section 138 of the Negotiable Instruments Act, who are the Managing Director and Director of the company facing liquidation have challenged the proceedings by filing these petitions under Section 482 of the Code of Criminal Proceedings.

2. In Crl.M.C.No.4044/2014 petitioners are accused Nos. 2 and 3 in S.T.No.162/2013 on the file of the Judicial First Class Magistrate Court-II, Koyilandy. That case was taken on file on the basis of a private complaint filed by the first respondent herein against the company by name Pen Properties and Builders Private Limited, Aluva, who is arrayed as second respondent herein with the petitioners as Managing Director and Director of the company, alleging commission of the offence under Section 138 of the Negotiable Instruments Act. Earlier the case was taken on file as C.C.No.583/2008 on the file of the Judicial First Class Magistrate Court, Koyilandy. Since the present petitioners did not appear, the case against them was split up and refiled as C.C.863/2013 as against the first petitioner, which is pending before the Judicial First Class Magistrate Court-I, Koyilandy, and as S.T.162/2