1. This is an application filed by the first accused in CC No.1197/06 on the file of the Judicial First Class Magistrate's Court, Kasaragod, to quash the case against him, under Section 482 of the Code of Criminal Procedure. It is alleged in the petition that the second respondent has filed a private complaint before the Judicial First Class Magistrate's Court, Kasaragod and after taking the sworn statement, the case was taken on file against the present petitioner and other seven identifiable accused persons. It is alleged in the complaint that the complainant is the registered owner of the vehicle bearing Registration No.KL-14/E-3032 and as per the loan agreement entered into between the complainant and the first accused, the complainant had availed of a loan of Rs.3,50,000/- from the first accused, after making a down payment of Rs.55,000/-. The complainant purchased the above said vehicle in his name, using the loan provided by the first accused. The Registration Certificate and the Insurance Certificate stand in the name of the complainant. There was some default committed in payment of the amount. On 7.2.2006, while he was driving the vehicle at about 6 pm, when th