1 APPLN-317.11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE CRIMINAL APPLICATION NO.317 OF 2011 John P. Carvalho .... Applicant Vs. Sudhir V. Rane & Anr. .... Respondents Shri Nitesh Das for the Applicant. Shri M.K. Kocharekar for Respondent No.1. Ms U.V. Kejariwal, APP, for the State. CORAM: R.C. CHAVAN, J. DATED: JUNE 16, 2011 P.C: This is an application for leave to file appeal against the judgment of acquittal rendered by the learned Metropolitan Magistrate, 21st Court, Bandra, Mumbai, acquitting the respondent of the offence punishable under Section 138 of the Negotiable Instruments Act, 1881. The cheque in question was stated by the accused to have been a blank cheque, given in the year 2003. Even according to the complainant he had invested a sum of Rs.22,28,000/- in a private limited company of which the accused was a Director. According to the complainant, he invested this amount in the 2 APPLN-317.11 company by issuing cheques in the names of the family members of the accused. One of the cheques was for Rs.2,00,000/- issued in the name of the accused Sudhir Rane and in exchange thereof it seems that Sudhir Rane was alleged to have issued a cheque for Rs.2,00,000/- which was dishonoured. This investment itself was made in the year 2001 according to para 4 of the affidavit in lieu of examination-in-chief tendered by the applicant. If the amount was invested in a private limited company which is a separate personality, it would be the company which would be liable to pay the amount back and if the Director of the company issues a cheque drawn on his personal account, it could not be said to be in discharge of any legally enforceable debt or liability. In view of this, it cannot be said that the view taken by the learned Magistrate is perverse or improbable. Leave refused. Appeal dismissed. (R.C. CHAVAN, J.)