1. The petitioners seek quashment of criminal proceedings in R.T. (Criminal Case No. 5/92), pending in the Court of JMFC, Itarsi, which these petitioners are facing for offences punishable u/s 409, 465 and 467 of the IPC.

2. The respondent filed a complaint which is registered as R.T. (Cri. Case No. 5/92) in the Court of JMFC, Itarsi, against these petitioners, on these facts that he happens to be "No Limit Contractor" and a partner of Firm Mohanlal Hiralal of Itarsi. This firm obtains and executes big contracts in respect of which various departments of the State Government issue tenders. Firm Mohanlal Hiralal has its account with Punjab National Bank, Branch Itarsi (petitioner No.2) and complainant respondent Govind Prasad Agrawal also has his personal accounts in aforesaid branch of petitioner No.2. Presently, respondent-complainant has 15 FDRs worth Rs. 3,40,000/- in Itarsi Branch of petitioner No.2. The details of these FDRs are stated in para 2 of the complaint, the copy of which is marked as Annex. P-10. The respondent-complainant, pledged all the aforesaid 15 FDRs bearing Nos. 69/86, 23/87, 17/87, 5/85, 37/86, 400/83, 398/83/ 399/83, 12/84, 20/85, 219/86, 220/86, 221/86