The revision petitioners herein are the accused in S.T. No.1539 of 1998 of the Court of the Judicial Magistrate of First Class-I, Palakkad.

2. S.T. No.1539 of 1998 arose upon a private complaint filed by the first respondent herein against the accused alleging commission of offences punishable under Section 138 of Negotiable Instruments Act (in short 'the NI Act').

3. The case of the complainant is that on 21.11.1996 the complainant deposited Rs.10,000/- in the Scheduled Caste Service Co-operative Society Limited No.1024 of Thenkurissi Panchayat for interest at the rate of 10%. The accused are the President and Secretary respectively of the above Bank and when the complainant demanded the amount so deposited the accused on 30.8.1997 issued a cheque bearing No.2803 drawn on the District Co-operative Bank Limited, Kuzhalmannam Branch and on presentation of the above cheque it was returned dishonoured for the reason that there is no sufficient fund to honour the cheque. The complainant issued notice on 9.10.1997 and informed the dishonour of the cheque and demanded payment. On receipt of notice they sent a reply raising false and untenable contentions. No amount was paid. Ther