Janarthanam, J. - T.S. Arunachalam, J., while bearing the arguments in this petition under Section 482, Code of Criminal Procedure, to quash the proceedings in C.C. No. 489 of 1992 on

the file of the XV Metropolitan Magistrate, George Town, Madras, raising the question as to whether the return by a Banker of a cheque unpaid bearing an endorsement 'account closed' ,will fall within the scope and ambit of the two contingencies. viz., 'insufficiency of the amount of money standing to the credit of the account of the person’ , or, it exceeded the amount arranged to be paid from that account of a person by an agreement with that Bunk', giving rise to a cause of action for launching a prosecution by preference of a private complaint for an offence under section 138 of the Negotiable Instruments Act, 1881 (Act 26 of 1881) (for shrt "the Act"), came to notice divergent views emerging from the learned Judges of this Court, Praia}) Singh J. and Padmini Jesudurai, J.

2. (a). In Binary Systems (P) Ltd. & Anr. v. Nobel Power (P) Ltd. Madras1, Pratap Singh, J. was concerned with a cheque, which was returned with an endorsement 'stop payment'. Though in the head note, it is slated that "sto