Bispasha is the Vice President (Business Development) of Embee Hardwares Ltd., a listed entity. The company decided to terminate the services of Bispasha due to gross misconduct and negligence in her duties. The company

According to Section 452 of the Companies Act, 2013, if any officer or employee of a company: wrongfully obtains possession of any property, including cash of the company; or having any such property including cash in his possession, wrongfully withholds it or knowingly applies it for the purposes other than those expressed or directed in the Articles and authorized by the Companies Act, 2013. Such an offence on the complaint of the company or of any member or creditor or contributory thereof, is punishable with fine which shall not be less than ₹1 lakh but which may extend to ₹5 lakhs. Further the court may also order such officer or employee to deliver up or refund to the company, within a time to be fixed by it, any such property or cash wrongfully obtained or wrongfully withheld or knowingly misapplied, the benefits that have been derived from such property or cash or in default, to undergo imprisonment for a term which may extend to 2 years. The Supreme Court in the matter of Gopika Chandrabhushan Saran vs. XLO India Ltd. held and prescribe circumstances where Section 630 of the erstwhile Companies Act, 1956 (presently Section 452 of the Companies Act, 2013) can get attracted: "it was observed that once right of an employee or officer of company to retain possession of property, either on account of termination of services, retirement, resignation or death, gets extinguished, persons in occupation of property are under an obligation to return property back to company as per Section 630 of the erstwhile Companies Act, 1956. Hence, Embee Hardwares Ltd. can file a complaint under Section 452 of the Companies Act, 2013 to initiate action against Bispasha in order to regain the possession of the Laptop wrongfully withheld by her after termination of her service.