1. The petitioner, the Director of M/s. Patliputra Builders Private Limited, who has been arrayed as the sole accused in Complaint Case No. 562(C) of 2004, through this application has prayed for the quashing of the order dated 10.1.2005 passed therein by Sri Saheb Kausar, the learned Judicial Magistrate. First Class, Patna, whereby he has taken cognizance of the offences under Section 420 I.P.C. and Section 138 of the Negotiable Instruments Act (herein after referred to as "the N.I. Act") against the petitioner.

2. The complainant, M/s Lawly Enterprises Private Limited (herein after referred to as "the Company") through its authorized Manager, Suresh Ram, impleaded herein as O.P. No. 2, filed the aforesaid complaint inter alia stating that the Company relying upon the statement of the accused, Sushil Kumar Saboo, one of the Directors as also the Managing Director of the Company, the authorised person, entered into a deed of development- cum-sale agreement with the accused signing for and on behalf of M/s Patliputra Builders Private Limited on 19.11.2001 to develop a multi-storied building over and above the second floor adjacent to Lawlys situated on Exhibition Road, Patna