ORDER :

1. The first petitioner, partnership firm and the second petitioner, its Managing Partner, are the accused in S.T. No. 1864 of 2020 filed by the respondent alleging commission of offence punishable under Section 138 of the Negotiable Instruments Act. The short facts leading to the filing of the complaint are as under:

The second petitioner and the respondent were partners of the first petitioner firm. The disputes between the partners resulted in the respondent filing a complaint under Section 420 of IPC against the second petitioner and her husband. This prompted the second petitioner and her husband to approach this Court seeking anticipatory bail. Thereupon, this Court directed the parties to resolve their disputes through mediation. Accordingly, the matter was mediated and settled. As per the terms of settlement, the second petitioner agreed to pay an amount of Rs. 2 Crores in full and final settlement of the monetary claims of the respondent. The amount of Rs. 2 Crores was to be paid in 32 instalments. In discharge of that liability, the second petitioner issued 32 cheques dated the 15th of every month, commencing from 15.04.2018 onwards. In addition, the second petition