Ace Bollywood beauty Sridevi is in news for being accused in a cheque bounce case.

The case is linked with the bouncing of the cheques issued by Sridevi and her hubby Boney Kapoor to film financer Madhu Gupta, the proprietress of Mumbai-based Photo Films Industries.

Gupta dragged Sridevi to the Supreme Court as the three cheques, one for Rs 92,50,484, one for Rs 8,41,85,682 and another for Rs 31,62,074 10-crore, bounced on being presented in the bank as her account did not have sufficient funds.

In his appeal, Madhu Gupta told that she has been supplying raw photo films and also finance their (Sri and Boney) film production business through their companies.

The Kurla Metropolitan Magistrate’s court, on a criminal complaint filed by Guptas, had issued summons to Sridevi under section 138 of the Negotiable Instruments Act.

Gupta had filed three complaints in April, 2007. But Sridevi and Boney Kapoor got many adjournments and lastly, moved the Mumbai High Court seeking a stay on the proceedings.

They also said that the cheques, allegedly issued by them, were in fact forged.