2. By taking aid of inherent jurisdiction under Section 482 of Cr.P.C., petitioners had filed this petition for quashing the criminal proceedings initiated against them for an offence punishable under Sections 406,420 and 120-B of I.P.C. and consequential order passed by the Chief Judicial Magistrate, Vidisha on 23.08.2007 by which he directed the Supdt. of Police, Vidisha to investigate the same under Section 156 (3) of Criminal Procedure Code.

3. Brief facts of the case are that the petitioner No. 1 entered into an, agreement to sell over an area of 9.95 hectares of Survey No. 171 /2/2 situated at Village Khemkheda, Tehsil and District Vidisha in favour of respondents No. 1 and 2 for a consideration of Rs.9 lakhs on the ground that he is exclusive owner and title holder of the said land and he need money for his personal necessity. On 29.07.2003, he executed an agreement with the respondents Nos. 1 and 2 vide Annexure P/3. As per agreement, on 29.07.2003 he received Rs.4 lakhs through. draft and cheque from the respondents No.1 and 2. The balance amount of Rs.5 lakhs was to be paid on or before 28.07.2004, with a condition that he will execute the sale deed on or