K.S. Kumaran, J. – Respondent Sushma Kedia lodged a complaint against petitioner - Meenakshi Gupta and her husband - Naresh Kumar Gupta under Section 138 of the Negotiable Instruments Act and Sections 420/120-B, I.P.C. The material allegations found therein are as follows:

2. Naresh Kumar Gupta along with Meenakshi Gupta used to sell and purchase shares through Tushar Associate of which Meenakshi Gupta was the proprietor. Both of them induced the complainant to sell her shares promising to give the sale proceeds within a period of one month. Shares of the value of Rs. 4,09.428/- were accordingly given by the complainant to the accused out of which the accused had paid Rs. 1,61,700/- leaving a balance of Rs. 2,47.728/- On demand by the complainant, the accused had given three cheques (1) for Rs. 50,000/- dated 5-4-1997. (2) for Rs. 75,000/- dated 20-4-1997 and (3) Rs. 1,00,000/- dated 5-5-1997 on Canara Bank, Panipat. The cheques were given by both the accused, but signed by the 2nd accused (Meenakshi Gupta). The complainant presented those three cheques for encashment on 9-7-1997 in Punjab National Bank, G.T. Road, Panipat but these cheques were dishonoured by the bank on th