(1.) Heard Sri.C.R.Raghavendra Reddy for the petitioners, Sri. R.V. Anand for respondent No.2 and learned HCGP for respondent No.1.
(2.) Learned counsel for the petitioners and respondent No.2 submit that the parties have submitted the memo along with Annexures A to D -the copies of agreements of settlement entered into between the petitioners and respondent No.2. Learned counsel for respondent No.2 further submits that respondent No.2 has no objection to quash the proceedings recording the said memo and agreements of settlement.
(3.) The petitioners and respondent No.2 had entered into contracts with regard to building centering materials. In that connection, it appears that as security for payment of the amount due, some cheques were issued in favour of respondent No.2. Respondent No.2 said to have presented those cheques and they were dishonoured.