Sanjay K. Agrawal, J.

1. Invoking the inherent jurisdiction of this court under Section 482 of the Code of Criminal Procedure, petitioner/accused herein has filed this petition seeking quashment of Criminal Case No. 1354/2012 registered in the court of Chief Judicial Magistrate, Surajpur; and also for quashment of order dated 22.08.2012 taking cognizance of the offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (henceforth "the NI Act, 1881").

FACTS

Respondent/complainant filed a complaint for the commission of offence punishable under Section 138 of the N.I. Act read with Section 420 of the Indian Penal Code (for short 'IPC') stating inter alia that the petitioner/accused while carrying on the business of printing and flex in the name & style of M/s. Golden Graphics, at the time of Bhatagaon bye election of local assembly he had contacted the complainant and borrowed a sum of Rs. 3,50,000/- with understanding and assurance that he would return the said amount after clearance of the bill alongwith profits which he would earn from this work. That amount was alleged to be given as a loan.

2. It is further case of the complainant, that petitioner gave a cheq