Section - 405,406 & 408. (First Post - Interesting)
Rajesh
(Querist) 24 February 2009
This query is : Resolved
I have a freind of mine who worked with a very small Pvt. Ltd. company, for about a Year and half in the capacity of Factory Head.
He was incharge of all the activities carried on in the plant including cash.
He was also been authorised to operate the bank account jointly with the Finance Manager to the limit of Rs. 40000/-. There was a service bond with the below mentioned 2 (two) clauses
1) That the Employee has agreed to serve the company for a period of 2 Years (from..... to ......)
2)In case the Employee breaches the condition , he shall forth right pay to the employer a sum of rs. 250000/- as damages and incase the payment is delayed the employee shall be liable to pay interest @12% per annum.
This freind of mine got a very good opportunity with a multinational company and decided to leave the small Pvt. Ltd. Company.
Inspite of much persuasion the employer did not agree to relieve this freind from the job. However my freind decided resigh and serve him 30 days of notice.
The employer issued him a letter stating that the freind cannot be relieved as he has signed a bond, and in case he decides to breach the bond, he shall have to pay the damages as listed out in the bond.
My freind on realising that he is not allowed to move out from the company, did the below mentioned.
The company had an old machinery to be sold, a party had come to see the machinery and agreed to the General Manager of the company to purchase the old machinery for Rs.2.6 lacs. As a token he paid an advance of Rs. 80000/-, for which the General Manager gave the receipt.
On the next day freind took an amount of Rs.50000/- and left the balance amount of rs. 30000/- in the cash box. He immediately wrote an e-mail that he has spent cash of Rs. 50000/- out of the advance of Rs. 80000/- for meeting his personal obligations, and that he intends to return it before the expiry of his last date of notice period, incase he fails to return the cash the same can be deducted from the full and final settlement of dues taht are payable to him by the company.
Subsequently he returned rs. 10000/- and requested the company to settle the balance against the dues payable to him by the company.
The company asked my friend not to report to work from the very next day onwards, without giving anything in writing, and withpout making the full and final settlement. My freind has repeatedly requested the company to do the settlement
instead the company had filed a police complaint - which my freind went and attended. The Police authorities advised that its an accounts dispute and both party should settle amicably.
Off late say about the expiry of more than a year the freind has got a summons from the jurisdiction court under Sec. 205,206 & 208.
Any legal experts can advise hte course of actions to be followed by my poor freind(Financially as well as under this situation)
God Bless!
PALNITKAR V.V.
(Expert) 24 February 2009
What are the sections. 405,406,408 or 205,206,208? I believe those are 405, 406 and 408 of IPC. It is not made clear whether he was allowed to take cash to the tune of Rs.50,000 without permission of any authority of the company. If he was not authorised then he may have to face the charges.
Kamlesh soni
(Expert) 26 February 2009
Yes i do agree with Mr. palnitkar
Abhishek
(Expert) 26 February 2009
i agree wid all d above...
Rajesh
(Querist) 27 February 2009
My freind has taken it and informed the authority, not taken prior permission / Approval.
Under this circumstances, what does he need to start doing hereonwards, since it is already known that he has been charged under 405,406 & 408.
