Hon'ble Shri Manindra Mohan Shrivastava, J.

1. By this petition under Section 482 of the Code of Criminal Procedure, 1973 (hereinafter referred to as "the Code") the petitioners have called in question the legality, validity and maintainability of the criminal proceedings instituted upon complaint filed by respondent No. 2, alleging commission of offence under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as "the N.I. Act"). The petitioners have also prayed that the order dated 24th June, 2000, by which the cognizance has been taken against the petitioners and other Directors of the Company and process issued, launching prosecution, be quashed. The factual matrix giving rise to this petition, as adumbrated in the petition and relevant for decision of the petition, are that respondent No. 2 instituted a complaint under Section 200 of the Code against the petitioner's Company and its Directors in the Court of Additional Chief Judicial Magistrate, Raipur, alleging commission of offence under Section 138 read with Section 141 of the N.I. Act, read with Section 420/34 of the IPC. In the complaint, it was averred, inter alia, that a decree was passed in