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of <h1>Company director acquitted under Indian Companies Act; wrongful retention charge dismissed. Legitimate salary claim upheld.</h1> <h3>K. Sundaresa Aiyar, In re</h3> The court acquitted the petitioner, a company promoter-director, who was accused under section 282A of the Indian Companies Act for wrongfully retaining ... Penalty for wrongful with holding of property The petitioner, a promoter-director of a company, was accused under section 282A of the Indian Companies Act for wrongfully keeping company articles. The court found in favor of the petitioner as he had a legitimate claim for unpaid salary and had obtained a decree against the company for the same amount. The conviction and sentence were deemed illegal, and the petitioner was acquitted with the possibility of a fine refund.
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