Debiprasad Sengupta, J.

This is an application for quashing of a proceeding being complaint case No. C/1629 of 1996 pending in the court of learned Metropolitan Magistrate 12th Court, Calcutta under section 138/141 of the Negotiable Instruments Act, 1881.

2. The aforesaid proceeding was initiated on the basis of a petition of complaint filed by the complainant/opposite party. The allegations made in the petition of complaint is that the accused petitioner approached the complainant/ opposite party's company for corporate loan and promised to repay the same within a stipulated period and in that perspective issued a cheque bearing No.594544 dated 16.7.96 for Rs. 30 lakhs drawn on Bank of India, Jawaharlal Nehru Road Branch, Calcutta. Before the said cheque was due to be presented for encashment the accused petitioner gave a letter containing some false and frivolous story with the fraudulent intention to cheat the complainant. The complainant thereafter presented the said cheque for encashment within its validity period to their Banker, but the said cheque was dishonoured on 15.7.96 with the remark "payment stopped by the drawer". The complainant served a demand notice upon t