The complainant is a resident of Kakinada, the accused is a resident of Rajahmundry and they know each other. On 15-09-2006 the accused for the purpose of meeting his family expenses borrowed a sum of Rs.3,50,000/- from the complainant expressing to repay the amount with interest at 24% per annum, and executed a pronote in that context in favour of the complainant. Thereafter, on the repeated demands made by the complainant, the accused issued a cheque bearing No.657917 dated 03-11-2007 for Rs.3,50,000/- drawn on Andhra Bank, Madhav Nagar Branch, Kakinada to the complainant towards the payment of the debt amount whereas when the complainant sent the cheque to the bank of the accused on 30-042008 for collection through his bank i.e., Andhra bank, Srinagar Colony, Kakinada, it was returned with an endorsement “funds insufficient” along with the corresponding memo dated 30-04-2008 following which the complainant got issued a legal notice to the accused on 10-05-2008 calling upon him to pay the cheque amount. The accused received the notice on 21-05-2008 and gave reply on 19-05-2008 following which the complainant got issued rejoinder on 19-06-2008 to the reply issued by the accused, whereas