Provision

Whoever, being a clerk, officer or servant, or employed or acting in the capacity of a clerk, officer or servant, willfully, and with intent to defraud, destroys, alters, mutilates or falsifies any book, paper, writing, valuable security or account which belongs to or is in the possession of his employer, or has been received by him for or on behalf of his employer, or willfully, and with intent to defraud, makes or abets the making of any false entry in, or omits or alters or abets the omission or alteration of any material particular from or in. any such book, paper, writing, valuable security or account, shall be punished with imprisonment of either description for a term which may extend to seven years, or with fine, or with both.


Simply put

The section requires that the offender must be a clerk, officer or servant or employed or acting in the capacity of a clerk, officer or servant. He must wilfully and with intention to defraud, destroy, alter, mutilate or falsify any book, electronic record, paper, writing, valuable security or account which belongs to his employer or which is in the possession of his employer, or which the offender has received for his employer or on behalf of his employer. Or, the offender must wilfully, and with the intention to defraud, either make or abet the making of any false entry in, or must omit or alter or must abet the omission or alteration of any material particular from or in, any such book, electronic record, paper, writing, valuable security or account.



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