Hon’ble Saumitra Dayal Singh, J.—Heard Sri Swapnil Kumar, learned counsel for the applicant, Sri S.N.Singh, learned counsel for the opposite party No. 2 and learned A.G.A. for the State as also perused the record.

The present application under Section 482 Cr.P.C. arises from the First Information Report dated 1.9.2017 in Case Crime No. 949 of 2017, under Sections 420 and 406 I.P.C., Police Station Nai Mandi, District Muzaffar Nagar (instituted in pursuance of the order passed on application filed under Section 156(3) Cr.P.C.), being Criminal Case No. 4811/9 of 2017 (State of Uttar Pradesh v. Pawan Kumar), pending in the Additional Chief Judicial Magistrate, Court No. 1, Muzaffar Nagar.

2. According to the F.I.R. version, the opposite party No. 2 had a pre-existing social relationship with the applicant, who was engaged in trading in ‘Gur’ in the name and style M/s Om Prakash & Ajay Kumar, at Kukda Mandi, Muzaffar Nagar. Further, the applicant approached the opposite party No. 2 in March, 1996 to borrow Rs. 2,00,000/- with a promise to return such money within a period of one month, failing which he agreed to pay interest @ 18%, compounded at monthly rests. The opposite part