This appeal under Section 378(4) Cr.P.C. upon grant of special leave by this Court, is by the complainant in C.C.No.308/2004 on the file of the Additional C.J.M., Bangalore District, and is directed against the judgment and order dated 23.11.2006 passed by the Presiding Officer, Fast Track Court-II, Bangalore Rural District in Crl.A.No.69/2006, whereby the judgment and order dated 17.5.2006 passed by the learned Magistrate convicting the respondent – accused of the offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (for short ‘the N.I. Act’), came to be set aside and the accused was acquitted.

2. The appellant filed a complaint under Section 200 Cr.P.C. r/w Section 142 of the N.I. Act against the respondent – accused inter alia contending that the respondent – accused had borrowed a hand loan of Rs.1,00,000/- in the month of July 2003 and towards discharge of the said hand loan, he issued the cheque bearing No.238109 dated 15.11.2003, drawn on Canara Bank, Kolar and when the said cheque was presented for encashment, the same came to be returned unpaid with Banker’s endorsement “funds insufficient” and in spite of service of legal notice to the r