Section 409A

It is no defence for any offence prescribed in sections 405,406,407.

408 and 409 to show that the property was openly appropriated or that the appropriation was duly recorded and entered in the books and accounts of any company or association or body of person whether incorporated or not.

Explanation -

The property of a company shall be regarded as belonging to the company, notwithstanding that the directors of the company are, either singly or jointly, entitled to the entire beneficial interest, of the shareholding a in the company.

B.L. R.O. 5'2021

178 CAP. 22

Penal Code