The case stemmed from a long-standing financial dispute between Kappan and Menon.
The financial dealings had also led to a separate criminal case against Kappan in Kerala for cheating and criminal breach of trust.
The Kerala High Court had earlier declined to interfere with the framing of charges.
However, a special court in Ernakulam later acquitted Kappan of the criminal charges in February 2025.
The cheque bounce case, instituted in Mumbai, continued culminating in the verdict today.