Vaman Rao, J. - These petitions under Section 482 of Cr. P.C: seek quashing of the proceedings in C.C. Nos. - 6 and 210 of 1999 on the file of the Addl. Judicial First Class Magistrate, Karimnagar in which the petitioner is sought to be prosecuted for the offence under Section 138 of the Negotiable Instruments Act.

2. According to the allegations in the complaint the complainant has been running finance business at Karimnagar as M/s. Om Sai Securities and Investments Private Limited. The accused approached the complainant for finance and sought a' loan of Rs. 6,40,000/-. The complainant accordingly gave the amount and the accused executed the necessary agreement agreeing to pay interest @ 24% per annum quarterly. The accused also agreed to repay the entire amount within six months from the date of the agreement. The accused after receiving the amount issued four blank cheques amounting to Rs. 4 lakhs and agreed to issue share certificates together with transfer deeds but the accused did not give any share certificates to the complainant as per the agreement. The complainant requested the accused for repayment of the loan amount after due period of six months and did not present