Section 83(1) in The Maharashtra Non-Trading Corporations Act, 1959
(1)If any officer or employee of a corporation–(a)wrongfully obtains possession of any property of a corporation; 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 corporation or any creditor or contributory thereof, on conviction, be punished with fine which may extend to five hundred rupees.
