The accused in C.C.No.1015 of 2003 on the file of the learned Judicial Magistrate No.2, Coimbatore has brought forth this criminal original petition under Section 482 Cr.P.C. seeking an order quashing the proceedings pending against him in the above said Calendar case which was initiated based on the private complaint made by the respondent herein for an offence punishable under Section 138 Negotiable Instruments Act, 1881.

2. The facts relating to the filing of the above said private complaint are as follows;

i) The petitioner herein was extended financial assistance by the respondent corporation by sanctioning a loan of Rs.1,69,000/-on 14.01.2003 for the purchase of a house site in Erode. The said amount was agreed to be repaid in 96 monthly instalments. In discharge of part of his liability under the said loan transaction, the petitioner herein had issued six post dated cheques with the following particulars;

ii) When all the six cheques were presented by the respondent corporation for encashment through their bankers, M/s. Canara Bank, Coimbatore on 10.07.2003, the cheques were, however, dishonoured by the drawee bank and returned with the memo dated 18.07.2003 conta