By making this application under Section 482, Cr. P. C. the petitioner, who is the accused in Complaint Case No. 45949/2006, has sought for, inter alia, setting aside the order, dated 26-5-2006, whereby the learned Judicial Magistrate 1st Class, Guwahati, Kamrup, has taken cognizance of offence under Section 138 of the Negotiable Instruments Act, 1881 (in short, 'the NI Act'), and directed issuance of process against the petitioner as accused.

2. I have heard Mrs. A. Sharma, learned counsel for the accused petitioner, and Mr. K. Bhattacharjee, learned counsel for the complainant opposite party.

3. Before I turn to the sustainability of the present petition, it is pertinent to take note of the facts, which have led to the passing of the impugned order, dated 26-5-2006.

4. The opposite party herein lodged, as complainant, a complaint which gave rise to CR Case No. 45949/2006 aforementioned. The case of the complainant, in brief, is thus : The accused issued a cheque dated 17-3-2006, for a sum of Rs. 5 lakhs, drawn in favour of the complainant at the State Bank of India, Guwahati Branch, in discharge of the loan amount, which the accused had taken from the complainant. The compl