In Brief
This appeal challenges a conviction under Section 409 IPC (breach of trust) for non-payment of Rs. 83 lakhs owed for 20,000 shares. The appellant admitted liability but issued dishonoured cheques. The Special Court found clear dishonest intention. On appeal, the Court upheld the conviction but facilitated settlement between the parties. With appellant's consent, the interest rate was reduced from 18% to 12% per annum, and a structured payment plan over six months was agreed. The sentence was reduced to time already served, provided the settlement amount is paid as scheduled."
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