As per case facts, the petitioner, a company director, was granted bail under strict conditions, including settling claims with allottees of his real estate project and avoiding similar offenses. These ... conditions were imposed due to allegations of non-delivery of units and siphoning of funds. Despite multiple court orders and mediation attempts over several years, allottees continued to report non-compliance, incomplete projects, and alleged financial irregularities, including using company funds for bail without proper authorization and making suspicious transactions during an insolvency moratorium. The question arose whether the petitioner had genuinely complied with the bail conditions, particularly concerning the settlement of allottees' claims and refraining from further misconduct, thereby warranting the continuation of his bail. Finally, the Supreme Court determined that the petitioner failed to meet the bail conditions in both letter and spirit. His actions showed a clear lack of good faith in resolving allottees' issues, inadequate progress on the project, mismanagement of company finances, and engagement in prohibited transactions during the moratorium. Consequently, the bail was canceled, the deposited amount was forfeited, with portions directed to the National Legal Services Authority and the IRP. The petitioner was ordered to surrender and could apply for fresh bail only after a specified period and full compliance with insolvency proceedings.