This appeal arises out of the judgment of the learned Judicial Magistrate No.III, Erode acquitting the respondent herein, who stood the trial for an offence punishable under Section 138 r/w 142 of the Negotiable Instruments Act in C.C. No. 177/2000. The said case had been taken on file by the Trial Court based on a private complaint lodged by the appellant/complainant containing the following allegations:

"On 20.3.2000, the respondent herein/accused borrowed a sum of Rs.2,50,000/- from the appellant/complainant for his urgent expenses and for the discharge of the said debt, the respondent/accused issued a cheque dated 20.4.2000 drawn on Canara Bank, Park Road, Erode for a sum of Rs.2,50,000/-. He also made a promise to pay interest @ 24% per annum. When the cheque was presented for collection on 24. 2000, it was returned with the Bankers note "funds insufficient". Pursuant to the bouncing of the cheque, a lawyers notice was issued to the respondent/accused on 5. 2000. But, the registered cover containing the said notice was returned as "not claimed" on 15. 2000.

As the respondent/accused evaded service of notice, failed to issue any reply and did not make any payment for