1. The applicant/drawer has invoked the jurisdiction of this Court under section 482 CrPC to assail the order dated 18.12.2010 whereby the Court below has rejected the application of the applicant preferred under section 245 of CrPC and decided to proceed with the matter on merits. The question needs consideration is whether Court below is justified in rejecting the said application and proceeding with the matter on merits and whether any interference at this stage is warranted by this Court?

2. The said question emerges on the following factual backdrop. The non-applicant/complainant filed a complaint under section 138 of N.I. Act. contending that the present applicant took a loan of Rs.3,00,000/- in April, 2008 from the non-applicant with the promise that same would be refunded within a year. A receipt to that effect was also executed. When the said loan amount was not repaid up to one year, request was made by the non-applicant to the applicant and ultimately a cheque No. 82978 dated 13.5.2009 of Rs.3,00,000/- was given by the applicant to the non-applicant/complainant. The said cheque was deposited by the complainant at State Bank of India, Morena on 25.5.2009. However, the