YASIR IS EMPLOYED AS A CASHIER ON A MONTHLY SALARY OF RS 2000 BY ABC BANK FOR A PERIOD OF THREE YEARS. SAMEER GAVE SURETY FOR YASIR’S GOOD CONDUCT.AFTER NINE MONTHS,THE FINANCIAL POSITION OF THE BANK DETERIORATES.THEN YASIR AGREES TO ACCEPT A LOWER SALARY OF RS 1500 PER MONTH FROM THE BANK. TWO MONTHS LATER, IT WAS FOUND THAT YASIR HAS MISAPPROPRIATED CASH SINCE THE TIME OF HIS APPOINTMENT .WHAT IS THE LIABILITY OF SAMEER ? *
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IPC Section 420
Imprisonment for a term of 7 year and fine
Under Section 447 of Companies Act, 2013
Imprisonment of no less than six months, which may even extend to 10 years.
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