O R D E R

The petitioners have filed this Criminal Original petitions to quash the proceedings in STC.No.737 of 2018 on the file of the Judicial Magistrate III, Salem, Salem District, in which cognizance was taken for the offence punishable under Sections 138 & 142 of Negotiable Instruments Act. 2. The case of the prosecution is that the petitioners have approached the respondent to avail financial assistance for their business and requested sum of Rs.50 lakhs, which was agreed upon by the respondent and lent on various dates. Both parties entered into a loan agreement dated 24.12.2014, whereby the petitioners agreed to repay the loan amount within 6 months and to pay 12 % interest untill repayment. Against the said loan, the petitioners executed a deed of deposit of title deeds and guarantee deed. The petitioner failed to repay the amount as agreed, the respondent issued a legal notice dated 15.11.2017 and filed a suit for recovery of money on 28.11.2017 in O.S.No.314 of 2017 against the petitioners, which is pending. On 20.07.2018, the petitioner approached the respondent and issued three cheques in favour of the respondent, each for a sum of Rs.5 lakhs, totaling 15 lakhs towards