1. The petitioners herein are the accused in C.C. No. 1075 of 2015 on the file of the Judicial Magistrate of the 1st Class Palakkad. The said case has arisen from Annexure-A complaint filed by the 1st respondent herein alleging offences punishable 418, 420, 421, 422 and 424 of the IPC. The aforesaid proceeding is sought to be quashed by invoking the powers of this Court under section 482 of the Code of Criminal Procedure.

2. In order to appreciate the contentions raised, the allegations in Annexure-A complaint will have to be gone into in some detail.

(a) The 2nd respondent/de facto complainant is the Managing Director of Techno Polymer Products Pvt. Ltd. The accused on the other hand were the partners of NI Micro Technologies, a business establishment based at Palakkad.

(b) On the strength of a purchase order, MS plates manufactured by the 2nd respondent, having a value of Rs. 6,60,086/- was supplied to the accused. By direct payment in cash, cheques and bank transfers, the petitioners paid a total sum of Rs. 4,80,086/-. A sum of Rs. 1,80,086/- remains unpaid.

(c) The 2nd respondent on numerous occasions demanded the petitioners to repay the balance amount. By stating various e