Section 333: Fraudulent use or destruction of property

333. Fraudulent use or destruction of property Any director, employee, or shareholder of a company who— (a) fraudulently takes or applies property of the company for his own use or benefit, or for a use or purpose other than the use or purpose of the company; or (b) fraudulently conceals or destroys any property of the company, shall commit an offence and shall, on conviction, be liable to a fine not exceeding 1,000,000 rupees and to imprisonment for a term not exceeding 5 years.