ORAL ORDER

Rule. By consent, Rule is made returnable forthwith.

2.Heard counsel for the parties.

3.An order dated 19th October 2006 passed by the 30th Metropolitan Magistrate Court issuing process in Criminal Case No.1694/SS/2007 is challenged by the applicants, who are co-accused, by these two applications. Hence, both the applications are disposed of by this common order.

4.There is no dispute between the parties regarding the basic facts which are as follows. The H.D.F.C. Bank Ltd. (hereinafter referred to as "the complainant") filed a complaint, bearing Criminal Case No.1650/2006 (renumbered as Criminal Case No.1694/SS/2007), against Rajesh Sharma (hereinafter referred to as "Rajesh"), his son Kartik Sharma (hereinafter referred to as "Kartik") and wife Neelam Sharma (hereinafter referred to as "Neelam") for an offence punishable under section 138 of the Negotiable Instruments Act. The complaint states that under a loan agreement dated 22nd November 2005, the complainant granted a loan of Rs.1,50,00,000/- to M/s Silverline Motors Pvt. Ltd. (for short "the Company") on the terms and conditions recorded in the agreement. Under the loan agreement, the Company had agreed