The Supreme Court of India has reinstated a criminal case against Virendra Gala, a close associate of builder Ashwin Sheth, regarding a bounced cheque for ₹50 crore. The case originated from disputes between Renuka Sheth and Ashwin Sheth over the alleged illegal transfer of shares in Sheth Developers and Realtors (India) Ltd. Following an agreement made on January 12, 2022, where Ashwin was to provide Renuka with three floors of a family property and the cheque, the cheque was dishonored on April 6, 2022. Renuka filed a complaint in the Andheri metropolitan magistrate’s court, which initially led to the prosecution of Gala under Section 138 of the Negotiable Instruments Act (NI Act). However, the Sessions Court and subsequently the Bombay High Court dismissed the case, arguing there was no enforceable debt due to the unsigned nature of the agreement. Renuka appealed to the Supreme Court, which ruled that the complaint should not have been dismissed at the preliminary stage, as it satisfied the necessary legal requirements. The Supreme Court highlighted that the cheque was indeed signed by Gala and emphasized the statutory presumption that it was issued for a legally enforceable debt, thereby restoring the complaint.