1 APPLN-2236.10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE CRIMINAL APPLICATION NO.2236 OF 2010 M/s. United Traders .... Applicant Vs. I.K. Meman & Anr. .... Respondents Shri Tushar Goradia for the Applicant. Shri S.A. Shaikh, APP, for the State. CORAM: R.C. CHAVAN, J. DATED: AUGUST 01, 2011 P.C: This is an application for leave to file appeal against the acquittal of the respondent for the offence punishable under Section 138 of the Negotiable Instruments Act on account of dishonour of a cheque of Rs. 4,00,000/-, issued by way of security when the transaction was first entered into. The letter dated 2-11-2006 whereby the accused had received a cash deposit of Rs.4,00,000/- itself shows that the accused had given the cheque of Rs.4,00,000/- by way of security towards advance deposit of Rs.4,00,000/-. This advance deposit was to be adjusted towards the scrap which was to be lifted. The accused claims that 2 APPLN-2236.10 in fact the accused had to recover Rs. 10,44,015/- from the complainant and therefore appropriated the amount of Rs.4,00,000/- which was initially taken as advance, leaving a balance of Rs.6,44,015/- to be recovered from the complainant. Since the complainant had not taken any receipts for the value of the scrap which was lifted and since the cheque by virtue of the letter dated 2-11-2006 was issued towards security, the complainant cannot grieve now. The learned Magistrate cannot be said to have erred in acquitting the accused. Leave refused. Appeal dismissed. (R.C. CHAVAN, J.)