This is what I did as the solution for the problem. Hope it will help anyone who faced the same problem. Here parent is ViewGroup parameter,
Drawable imageDrawable=parent.getContext().getResources().getDrawable((R.drawable.ic_folder));
imageDrawable.setBounds(0,0, 40, 40);
((CheckedTextView) convertView).setCompoundDrawables(imageDrawable, null,null, null);