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of <h1>Section 452 of Companies Act: Penalties for Wrongful Withholding of Company Property Include Fines and Possible Imprisonment.</h1> Section 452 of the Companies Act, 2013 addresses the punishment for wrongful withholding of company property. It stipulates that any officer or employee who wrongfully obtains or withholds company property, or misapplies it, can be fined between one lakh and five lakh rupees. The court may also order the return of the property or its benefits and can impose imprisonment of up to two years if the property is not returned. However, imprisonment is not applicable for withholding a dwelling unit if the company owes the officer or employee certain unpaid benefits or compensation.
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