1 (911) Appln 348/11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION Amk CRIMINAL APPLICATION NO. 348 OF 2011 M/s. T. A. Shah Group of Companies .. Applicant Vs. State of Maharashtra & Ors. .. Respondents Ms. Deepti Panda with Mr. H. N. Thakore with Mr. Dhaval Deshpande i/b M/s. Thakore Jariwala & Associates for the Applicant. Mr. Neeraj Gupta for Respondent Nos.2 & 3. Mrs. A. A. Mane, APP for the Respondent State. CORAM : MRS. ROSHAN DALVI, J. Date : 3rd May, 2011. P.C. 1. This application is for leave to Appeal sought to be filed against the acquittal order in criminal prosecution under Section 138 of the Negotiable Instruments Act. The parties entered into an agreement on 30th December, 2004. The Complainant has drawn my attention to recital (e) which shows the requirement of payment of Rs.1.25 crores by the accused who is the producer. The accused has thereafter given a guarantee on 12.09.2005 reiterating that he is duty bound to pay Rs.1.25 crores and interest of 13% per annum. The guarantee further makes reference to Rs.34 lacs which could not be repaid and which was agreed to be repaid on 30th June, 2006. It makes offers of acceptance of Rs.91 lacs to release the film of the accused. Rs.91 lacs are stated to be part payment towards the loan account. 2 (911) Appln 348/11 2. The parties thereafter entered into correspondence. The Complainant wrote a letter dated 20th December, 2005 and accused replied to the letter and confirmed to repay the balance amount of Rs.87 lacs with interest of 13% per annum. 3. The cheques which came to be dishonoured have been stated to have issued on the date of first agreement. The agreement does not mention the cheques. The cheques are shown to be given towards various loans granted from time to time. The loans are also not shown. Inquiry of this Court revealed that loans are paid in cash as well as in cheques. NO bank account showing the cheque entries has been produced in the trial Court. 4. The admission of liability that is shown to Court under the last letter dated 23rd January, 2006 of the accused of Rs.87 lacs makes no reference to the cheques being issued. The cheque in this case is Rs.1.04 crores dated 26.06.2006. If it is issued by the accused, it would be upon taking accounts and not for specific liquidated liability. Of course the parties would have to make account under that transaction for making the film. Yet since no grant of loan is shown as per the case of the Complainant, the order of the Ld. Magistrate acquitting the accused cannot be faulted. Leave to Appeal is refused. (ROSHAN DALVI, J.)