ORDER :

1. The present application is filed under Section 482 of Code of Criminal Procedure, 1973, [“Cr.P.C.”] seeking quashing of proceedings in C.C. No. 344 of 2012 on the file of Judicial Magistrate of First Class, Macherla, Guntur District.

2. The 2nd Respondent herein filed a private complaint against the Petitioner/Accused for an offence punishable under Section 138 of Negotiable Instruments Act. The allegations in the complaint, are as under:

(i) Both, the complainant and the accused are close friends and there were money transactions between them since 2008. It is said that, accused used to borrow money from the complainant as and when he is in need of it.

(ii) On 07.05.2008 and 15.05.2008, the accused is said to have received a sum of Rs. 10,00,000/- on both dates from the complainant agreeing to pay the same with interest @ 24% per annum. The said amount was paid by way of cheques through his account at HDFC Bank, Kukatpalli Branch, Hyderabad. Subsequent thereto, there were some transactions between the accused and the complainant. On 27.06.2012, the complainant found the total amount due by the accused was about Rs. 25,75,000/- and with a view to discharge the same, a cheque