Property made from the misappropriated money of the company by an employee.

S.B.adil rahman (Querist) 05 January 2014 This query is : Resolved
A person was appointed on temporary basis to serve a private company as the marketing manager at a monthly remuneration of Rs. 50,000 per month. After some times the company found that the employee had purchased ownership flat and a shop worth 40 lakhs of rupees. It was also found that he had purchased a farm house of almost equal value. The employee, sensing trouble, left the job and shifted to some other place. Documentary evidences are there to prove that the employee had taken a lot of money from the company on different counts but had not made payment to the other parties for whom he taken money. My question before the honourable members is that whether the company can file a title suit in respect of the properties acquired by the employee during his period of working with the company, claiming its rights and proportionate shares in the property owned by the employee? Whether civil court can be approached for issue injunction restraining him from disposing of the properties till the matter was decided by the court of law? Kindly guide.

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Guest (Expert) 05 January 2014
A criminal complaint and criminal suit to be filed and the assets could be attached in the criminal suit itself.Consult a Lawyer with strong evidences.

Devajyoti Barman (Expert) 05 January 2014
Cad eu/s 409, 420 lies. The misappriated property may be seized by Police.

Rajendra K Goyal (Expert) 05 January 2014
Criminal case need to be filed. Agree with the expert.

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