This Criminal Petition has been taken out under Section 428 Cr.P.C. by accused-N.Shanthi Lakshmi in C.C.No.742 of 2009 on the file of X Metropolitan Magistrate, Cyberabad at Malkajgiri, Ranga Reddy District, to quash the proceeding therein.

2. 2nd respondent-Kapil Chit Funds Private Limited is a Company registered under the Companies Act, having its registered office at 3-1-631, Vijaya Raghunandan Nagar, Karimnagar, A.P., and has been carrying on business in chit funds. It has branches all over the State and one such branch is situated at Nellore. The petitioner/accused joined as a subscriber in one of the chits of the 2nd respondent/Complainant at Nellore Branch. The total value of the chit is Rs.5,00,000/- and duration of the chit is 40 months. The petitioner/accused became the successful bidder of the chit having agreed to forgo Rs.2,24,000/- out of total chit amount of Rs.5,00,000/-. She received the prized amount. She issued an account payee cheque bearing No.205379, dated 10.10.2008, for Rs.88,945/-drawn on Indus Ind Bank Limited, Nellore Branch, towards arrears of chit amount. The 2nd respondent/complainant presented the cheque in its account at Union Bank of India