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of <h1>Company director's appeal dismissed for failing to pay Rs. 4.63 crore despite court orders, Rs. 5 lakh costs imposed</h1> <h3>Satish P. Bhatt Versus The State Of Maharashtra And Anr</h3> Satish P. Bhatt Versus The State Of Maharashtra And Anr - TMI Issues involved:The judgment addresses non-compliance with financial obligations and court orders, cancellation of bail and suspension of sentence, interpretation of settlement terms, and liability for outstanding amounts.Non-Compliance and Cancellation of Bail:The Supreme Court discussed the persistent disregard for judicial directives and financial obligations by the appellant, leading to the cancellation of bail and suspension of sentence by the High Court. The appellant and an intervenor were convicted under the Negotiable Instruments Act, with a total liability of Rs. 5 crores. Despite payment schedules and extensions granted by the High Court, the appellant failed to fulfill the agreed amounts, resulting in the cancellation of bail and suspension of sentence.Interpretation of Settlement Terms:The settlement agreement between the appellant and the intervenor specified a total payment of Rs. 4,63,50,000 to the complainant, to be equally shared. Disputes arose regarding the actual amounts paid by each party, with the intervenor claiming a 40% liability and the appellant 60%. The High Court observed discrepancies in the payment distribution and emphasized that the total agreed amount had not been fulfilled, leading to the withdrawal of bail and suspension of sentence.Liability for Outstanding Amounts:The intervenor argued that the appellant altered the settlement terms from proportional sharing to equal payment, causing confusion and non-compliance. The Court highlighted that the complainant was only entitled to the agreed amount of Rs. 4,63,50,000, irrespective of the internal distribution between the appellant and the intervenor. Emphasizing the failure to pay the agreed sum, the Court upheld the High Court's decision to cancel bail and suspend the sentence, dismissing the appeal and directing the parties to surrender for sentence execution.
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