( 1 ) THIS petition is filed under Section 482, Cr. P. C. to quash the proceedings in CC No. 325 of 1997 on the file of the Vth Metropolitan Magistrate, Hyderabad.

( 2 ) THE facts in giving rise to the petition are, briefly, as follows :- The second respondent, M/s. Genius Financial Services Limited, filed complaint against the petitioner for the offences under section 138 and 142 of the Negotiable Instruments Act (for short the act ) alleging that the petitioner approached the complainant for a loan of Rs. 3,00,000. 00 and the same was sanctioned on 17-9-1995 repayable on 17-1-1996. He sought extention of time for repayment of the said loan amount from time to time and ultimately issued a cheques for Rs. 50,000. 00 to discharge part of the liability on 31-12-1996 drawn on Canara Bank, Somajiguda Branch, Hyderabad in favour of the complainant and the same was presented and it was returned from the bank with an endorsement funds insufficient . Then the complainant got issued notice to the petitioner-accused for the dishonour of the cheque and calling upon him to pay the amount. The petitioner received the notice on 17-1-1997. As the petitioner-accused failed to pay