MUMBAI, April 22 -- The Supreme Court recently restored a criminal case filed by Renuka Sheth against Virendra Gala, a friend of her estranged husband Ashwin Sheth of Sheth Developers, over a bounced cheque for the sum of Rs.50 crore. There were disputes between Renuka and Ashwin Sheth over alleged illegal and fraudulent transfer of shares pertaining to Sheth Developers and Realtors (India) ltd and Sheth Developers Pvt Ltd. After Renuka filed complaints on the above grounds, Ashwin initiated negotiations for an amicable settlement and eventually the parties arrived at an agreement on January 12, 2022. According to Renuka, under the agreement, the high-profile developer had agreed to give her three storeys - the fifth, sixth and seventh floors - of Natwar Bungalow, the Sheth family property, a plot in Mumbai's western suburbs, and a sum of Rs.50 crore. She said Gala, a close friend of her husband, had agreed to act as a mediator and hold the sum of Rs.50 crore in an escrow account, and had issued Renuka a cheque for the same. Three months later, she said, the share transfer was completed contrary to the terms of the settlement. She also deposited the cheque for encashment. However, the cheque was dishonoured and Renuka approached the Andheri metropolitan magistrate's court with a complaint against Gala. The cheque was dishonoured on April 6, 2022, with a remark "payment stopped by drawer". Acting on her complaint, the magistrate's court on June 17, 2022, "issued process" (marking the beginning of criminal proceedings) to prosecute Gala under section 138 of the Negotiable Instruments Act (NI Act). Gala challenged the order before the Sessions Court and, on December 30, 2022, the first appellate court struck down the cheque bounce case primarily on grounds that there was no legally enforceable debt on the date of presentation of the complaint....