Navin Sinha. J.—This application has been preferred by the sole petitioner under Section 482 of the Code of Criminal Procedure for quashing of the Order dated 28.4.2003 passed by the learned Judicial Magistrate, 1st Class, Patna, taking cognizance against the petitioner in Complaint Case No. 2457/2002 instituted under Section 420, IPC and Section 138 of the Negotiable Instruments Act, 1881.

2. Opposite party No.2 filed the aforesaid complaint case before the Court of Chief Judicial Magistrate, Patna on 25.11.2002. The complaint petition stated M/s. Sunil Polyplast Limited, a company in which the petitioner herein was one of the Directors applied for grant of financial assistance and term loan in the prescribed manner. The complainant corporation after appropriate inquiry/formalities sanctioned the term loan to the company M/s, Polyplast Ltd. in the year 1989 to the extent of Rs. 90 lakhs. Consequent to the failure of the company and its Directors to repay the dues proceedings were initiated against the company on 17.1.2002 under Section 29 of the State Finance Corporation Act. Proceedings under the Public Demand Recovery Act, 1914 were also initiated on 31.3.2002 to recover