A.P. Bhangale, J.—This appeal is directed against the acquittal of respondents by the Judicial Magistrate, FC (Special Judge under Section 138 of the Negotiable Instruments Act) for an offence punishable under Section 138 of the Negotiable Instruments Act (for short, the “Act”) vide judgment & order dated 22nd December 2008 rendered in Criminal Complaint Case No. 4872 of 2005.

2. The facts are as under:

Appellant—The Maharashtra State Seeds Corporation is a Company registered under the Companies Act, 1956 while respondent no. 1 is Chairman of Kuhi Taluka Shetki Kharedi Vikri Sahakari Sanstha and respondent no. 2 is the Manager of said Sanstha. Parties hereinafter shall be referred to as per their original status in the complaint. There were business transactions between the parties and according to the complainant as on 31.8.2004 an amount of Rs. 4,91,445/stood outstanding against the accused and for payment of dues, they issued cheque bearing no. 110467 dated 17.11.2004 drawn on Nagpur District Central Cooperative Bank Limited, Nagpur for Rs. 4,91,445/. Complainant presented the said cheque for realisation with its bankers viz. Bank of Maharashtra, Hanuman Nagar Bra