Pallav Sheth vs Canara Bank

The Supreme Court upheld the conviction of the appellant under Section 409 IPC for dishonest misappropriation of shares valued at Rs.83,00,000, emphasizing that the appellant's actions demonstrated clear criminal intent despite his claims of civil liability. The Court found that the appellant had issued dishonored cheques and made false promises regarding payment, which substantiated the Special Court's findings. The appellant was sentenced to six months of rigorous imprisonment and a fine of Rs.1,00,000, with further imprisonment for default in payment.