1. Heard the learned Counsel for the parties.

2. This Application is filed by the applicant under Section 482 Cr. P.C. to quash and set aside the proceedings in Criminal Case No.882/SS/10 pending before the learned Metropolitan Magistrate, 12th Court at Bandra, for the offence under Sec. 138 of Negotiable Instruments Act registered on the basis of the complaint lodged by the complainant-respondent No.1.

3. The complainant is a non-banking financial company registered under the Companies Act with its head office at Mumbai. It has also network to provide financial aid and loan. The applicant is a proprietor of M/s. Kinger India having its office at New Delhi. According to the complainant, the accused as proprietor of M/s. Kinger India approached the complainant for trade financial facilities. The complainant agreed to provide and sanction trade financial facilities to the accused upto maximum limit of Rs.4 crore vide sanction letter dated 26.9.2005. On the basis of that, agreements were entered into between the complainant and the accused on 26.9.2005 and 19.12.2007. Pursuant to the same, from October 2005, the complainant started disbursing funds to the accused. In dischar