1. The petitioners are the accused.

2. The petitioners herein filed an application before the XVIII Metropolitan Magistrate, Chennai, to dismiss the complaint as not maintainable and to discharge the accused. Learned XVIII Metropolitan Magistrate, by his order dated 17.11.1997, dismissed the said application, Hence, the Revision.

3. The complaint against the petitioners herein was filed by the complainant, under Sec.138 of the Negotiable Instruments Act, on the following allegations.

The 1st accused represented by the 2nd accused received a deposit of Rs.50,00,000 as intercorporate deposit repayable in 90 days together with interest at 18%. To secure the repayment, the accused executed a promissory note for Rs.50,75,000 In spite of repeated demands, the accused paid only a sum of Rs.20,00,000 towards Principal amount. The accused were granted time till 30.11.1996 to pay principal amount and interest. On 30.11.1996, the accused handed over a cheque for Rs.38,87,565 drawn on Bharat overseas Bank Limited, George Town,Chennai. The complainant presented the cheque for payment through his banker M/s.Oriental Bank of Commerce, which was returned unpaid on the ground of insufficie