ORDER :

P. Naveen Rao, J.

1. Averments of the application disclose that applicant is a Company, registered under the Companies Act, 1956 having its registered office at Hyderabad, involved in manufacture of environmental simulation systems and is a subsidiary of a company by name Weiss Umwelttechnik GmbH registered in the Germany. The respondent was appointed as Head-Administration and Finance in the year 2011 and presently working as Vice President - Administration and Finance. On 31.08.2011 the applicant and the respondent entered into Employment Agreement. The applicant alleges that the respondent breached the confidence reposed in her, indulged in fraudulent activities, and misappropriated and siphoned off the funds of the applicant, causing huge loss to the applicant. Vide proceedings dated 20.03.2020, respondent was suspended from service. On 17.06.2020, show-cause notice was issued calling upon the respondent to explain the alleged illegalities committed by her. In the meantime, the applicant appointed M/s. Nathu and Pathak, Chartered Accountants, to conduct a forensic audit. The forensic audit report was submitted on 15.10.2020. The report pointed out misappropriation of Rs.1