TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Company officers or employees wrongfully taking or withholding company cash or assets faces fines; refund ordered, jail possible</h1> Wrongful obtaining of possession of company property (including cash), wrongful withholding of such property, or knowingly applying it for purposes not expressed or directed in the articles and authorised by the Companies Act, 2013 is made an offence when committed by any officer or employee, punishable on a complaint by the company or any member, creditor, or contributory with a fine of not less than one lakh rupees and up to five lakh rupees. The trial court may additionally order delivery or refund within a fixed time of the wrongfully obtained or withheld property or cash, and any benefits derived therefrom, and on default may impose imprisonment up to two years; however, imprisonment must not be ordered for wrongful possession or withholding of a dwelling unit if specified welfare or compensation dues to the officer or employee remain unpaid by the company.
TaxTMI 
TaxTMI 
