JUDGMENT

1. Heard Learned Counsel for the parties. The Appellant bank, aggrieved by the rejection of its petition filed Under Section 482 of the Code of Criminal Procedure before the High Court of Judicature at Rajasthan at Jaipur Bench declined to quash the order dated 24.02.2005, passed by the learned trial Judge in taking cognizance against the Appellant Bank for the alleged offence Under Section 138 of the Negotiable Instruments Act, 1881, hereinafter referred to as 'the Act', is before this Court questioning the correctness of the aforesaid orders urging various legal contentions.

2. The brief facts in nutshell to appreciate the rival legal submissions made by Mr. Sanjay R. Hegde, Learned Counsel appearing for the Appellants and Mr. E.C. Agrawala, Learned Counsel appearing for Respondent No. 2, with a view to find out as to whether the impugned judgment and order warrant interference by this Court in exercise of its appellate jurisdiction. The Appellant bank has issued a pay order in the name of Citi Bank, Account No. 0007849141 of Jaya Enterprises. Placing strong reliance upon this document, Learned Counsel for the Appellants submitted that the said pay order is neither a chequ