JUDGMENT :

R.K. Dash, J. - This petition u/s 482, Criminal Procedure Code, is filed invoking the inherent power of the court to quash the proceeding in Complaint Case No. 17 of 1993, on the file of the learned Judicial Magistrate, First Class, Bhubaneswar.

2. Suryo Udyog Limited, a public limited company, registered under the Companies Act, 1956, is having its registered office at Sahid Nagar, Bhubaneswar. Shradha Foundation (P.) Ltd. is a private limited company of which Shri S. P. Jaiswal is the director. Both Shradha Foundation and Shri S. P. Jaiswal (hereinafter referred to as "the accused persons") are petitioners and Suryo Udyog Ltd. (hereinafter referred to as "the complainant") is the opposite party No. 1 in the present proceeding. The complainant filed the aforesaid complaint u/s 138 of the Negotiable Instruments Act, 1881, (for short, "the Act") alleging, inter alia, that the accused persons for satisfaction of the outstanding dues had issued an account payee cheque dated July 24, 1992, for a sum of Rs. 77,000 drawn on the State Bank of India, Howrah Branch. The said cheque was presented for encashment, but returned unpaid with the endorsement "payment stopped by the drawer