The petitioner is the sole accused of C.C.No.139 of 2017 on the file of Judicial Magistrate of First Class for Prohibition & Excise, Guntur, where the learned Magistrate has taken cognizance for the offence under Section 138 of the Negotiable Instruments Act (for short the Act) against him on the private complaint of the 2nd respondent for the so called dishonour of 2 cheques for Rs.55,00,000/- (cheque bearing No.657426 for Rs.25,00,000/- and another cheque bearing No.657427 for Rs.30,00,000/- dated 12.03.2017 drawn on SBH, Secunderabad).

2. Before coming to the contentions in the quash petition, as per the complaint averments, said cheques when presented for collection at SBI, Personal Banking Division, Brundavan Gardens Branch, Guntur, on 13.03.2017 same were returned dishonoured on 15.03.2017 and the complainant issued statutory notice dated 16.03.2017 that was returned saying refused and from accrual of cause of action in filing the complaint. The complaint averments further show that the accused promoted a company and registered as unlisted company in ROC with CIN No. U85100 TG 2009 PTC 065599 by name M/s. Kiranmaye Institute of Medical Sciences Private Limited on 23.10.