JUDGMENT

A.P. Sen, J -The Companies Act, 1956 by section 630, enacts:

"630. Penalty for wrongful withholding of property-(1) If any officer or employee of a company-

(a) wrongfully obtains possession of any property of a company; or

(b) having any such property in his possession wrongfully withholds it or knowingly applies it to purposes other than those expressed or directed in the articles and authorised by this Act;

he shall, on the complaint of the company or any creditor or contributory there of, be punishable with fine which may extend to one thousand rupees.

(2) The Court trying the offence may also order such officer or employee to deliver up or refund, within a time to be fixed by the Court, any such property wrongfully obtained or wrongfully withheld or knowingly misapplied, or in default, to suffer imprisonment for a term which may extend to two years."

2. The only question involved in this special leave petition is as to the scope and effect of sub-section (1) of section 630 of the Act. The controversy is as to the meaning of the term 'officer or employee' used in subsection (1) of section 630 and as to the meaning of the words 'any such property' in cl. (b) thereof a