This is an application filed under section 482 Cr.P.C. seeking to quash the criminal proceeding in Reg. Criminal case No.245/1997 pending before J.M.F.C., Pune and registered on the basis of the complaint lodged by responded No.1.

2. To state in brief, the respondent No.1/ complainant filed the complaint under section 138 of Negotiable Instrument Act against Dhoot Chemo Plast Pvt. Ltd., its two Directors and Finance Secretary. It was contended that the present applicants are the Directors and Executives of the Company carrying on the business in the name and style "Dhoot Chemo Plast Pvt. Ltd." The accused required the complainant to advance the loan of Rs. 15 Lakh with collateral security. As per the terms and conditions of the loan, the complainant had advanced the loan by two Demand Drafts, one of Rs. 10 Lakh and another of Rs.5 Lakh.The Demand Drafts were received by the Finance Secretary of the company, who was accused No.3. Out of the said amount, on 11/4/1997 the accused repaid amount of Rs. 5 lakh by a Demand Draft and for the balance amount of Rs. 10 Lakh the accused issued a cheque against its account with United Western Bank Ltd. on 3/4/199