IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO.2050 OF 2006 IN CRIMINAL APPEAL NO. OF 2006 Shri Hasmukh C.Wani )..Applicant Versus Shri Vijay U.Udani & Anr. )..Respondents ---- Mr.Subodh Desai for the applicant. Mr.C.K.Pande for respondent no.1. ---- Coram : R.S.Mohite,J Coram : R.S.Mohite,J Coram : R.S.Mohite,J Date : 8.9.2008. PC 1. This is an application for leave to appeal. On perusal of the impugned judgment and order, I find that the acquittal is based on cogent reasons. It appears that the loan was for Rs.5,00,000/-. The cheque in question was also for Rs.5,00,000/-. However, it is an admitted position that at the time of taking loan, 60,000 shares of Orbit Polyster and 50,000 shares of L & T Company were also given as collateral securities. The complainant admitted that these shares were sold and monies were appropriated. The record indicates that credit for this amount is not given and cheque of Rs.5,00,000/- said to represent the entire loan is again sought to be encashed. In such circumstances, it is doubtful as to whether there is a legally enforceable debt : 2 : for full amount of Rs.5,00,000/-. Hence, leave refused. Consequently appeal papers to be filed. (R.S.Mohite,J) (R.S.Mohite,J) (R.S.Mohite,J)