BALDEV KRISHNA SAHI vs SHIPPING CORPORATION OF INDIA LIMITED & ANR.

The Supreme Court held that Section 630 of the Companies Act, 1956 allows for prosecution of both current and former officers or employees who wrongfully withhold company property after their employment ends. The Court clarified that the term 'officer or employee' includes past officers, and that wrongful retention of property is an offense under this section. The Court dismissed the special leave petition, affirming that the provision is beneficent and should be interpreted broadly to facilitate the retrieval of company property.