Vipin Sanghi, J.

1. This petition under Section 482 of the Cr.P.C (for short the Code) has been preferred for quashing the proceedings initiated under Section 138 of the Negotiable Instruments Act titled "Gyan Chand Jain v. Vijay Chaudhary", earlier pending in the Court of Ms. Navita Kumari Bagha and now pending in the Court of Mr. Sudesh Kumar, M.M., Patiala House, New Delhi.

2. The case of the complainant/respondent in his aforesaid complaint is that on 8.8.2004 (which according to the counsel for the respondent should be read as 6.8.2004), the accused/petitioner visited the shop of the complainant and took some diamonds and diamond studded jewellery worth Rs. 1,52,35,000/- on consignment/ sale basis and in lieu thereof, the accused/petitioner issued a cheque bearing No. 061630 for a sum of Rs. 1,52,35,000/- drawn on Federal Bank, Overseas Branch, New Delhi dated 10.4.2006. It is further alleged that the complainant presented the said cheque through its banker for collection and the same has been returned unpaid with the remarks "funds insufficient" and "payment stopped by attachment order/court order".

3. The submission of the petitioner is that even according to the co