1. It is the case of the petitioner that the 1st respondent herein filed a private complaint against the petitioner and the respondents 2 to 4 herein under Section 138 of the Negotiable Instrument Act, 1881, wherein the petitioner was arrayed as 2nd accused. According to the complainant/1st respondent herein, the 1st accused namely M/s. Chaya Knitting Ltd. is a public Ltd., company, the accused 2 and 3 are its authorized signatories, the 4th accused is the Managing Director and the 5th accused is the Director and they are responsible persons for the conduct and day to day affairs of the said company. The accused had credits with the complainant by way of Hosiery Yarn. In the said business transaction the accused have to pay a sum of Rs.59,02,620/- to the complainant. For the above said amount due, the accused No. 2 & 3 have jointly signed and issued 3 cheques bearing Nos.021117, 021144, 021145 all dated 21.05.2005 for Rs.59,02,620/- payable to the complainant, on behalf of accused No.1, with the consent of accused No.4 & 5.

2. The further case of the complainant/1st respondent herein is that the above said cheques were presented by her for collection was returned with an e