Abhijit Sinha, J.

1. The petitioner is aggrieved by order dated 31.5.2007 passed by Sri Bijay Kishan Chaudhary, Judicial Magistrate, 1st Class, Patna in Complaint Case No. 1378(C) of 2007, whereby he has taken cognizance allegedly for offences under Sections 406 and 420 I.P.C.

2. The prosecution case as culled out from the petition of complaint is that the petitioner carries out business in selling clothes which he obtains on credit from the complainants firm running in the name and style of "M/s Mittal Tex" and after selling the same pays for the cloth taken. But over the years a sum of Rs. 1,77,386/- became outstanding to the complainant firm out of which a sum of Rs. 1,21,500/- has already been paid, thereby leaving an outstanding balance of Rs. 55,886/-.

3. The complainant firm in the modus operendi adopted by Shylock in the Shakespeares play Merchant of Venice wants his pound of flesh and, therefore, he filed the complaint case, in a matter relating to dispute which is absolutely civil in nature being a commercial transaction between two parties based on an oral agreement. Admittedly, a civil remedy, therefore, lies and no criminal prosecution is maintainable unless i