S. Muralidhar, J.

1. The challenge in this petition under Section 482 of the Code of Criminal Procedure 1973 (CrPC.) is to an order dated 11th December 2007 passed by the learned Metropolitan Magistrate (MM.) Delhi discharging the accused (Respondent No. 2 herein) in Criminal Complaint Case No. 2421/1/05 under Section 138 of the Negotiable Instruments Act 1881 (NI Act.).

2. The aforementioned complaint was filed in relation to the dishonour of a cheque No. 782563 dated 10th September 2005 in the sum of Rs. 60,000/- drawn by the Respondent No. 2 Ashok Verma in favour of the Petitioner Thakur Arora as part payment of loan borrowed by the Respondent No. 2 from the Petitioner. The said cheque was dishonoured with the remarks "funds insufficient".

3. During the pendency of the complaint the parties entered into the memorandum of understanding (MOU.) on 8th November 2006. The said MOU reads as under:

Memorandum of Understanding

This memorandum of understanding is executed at New Delhi on this 8th day of November 2006 between Mr. Thakur Arora s/o Sh. Surat Prakash Arora r/o P-22A, Sri Niwas Puri, Private Colony, New Delhi (hereinafter referred as First Party) And Mr. Ashok Verma s