Section 435: Directors and officers of corporations or companies fraudulently

appropriating property or keeping fraudulent accounts, or falsifying books or
accounts
Any person who‐
(1) being a director or officer of a corporation or company, receives or possesses
himself as such of any of the property of the corporation or company otherwise than in
payment of a just debt or demand, and, with intent to defraud, omits either to make a
full and true entry thereof in the books and accounts of the corporation or company, or
to cause or direct such an entry to be made therein; or
(2) being a director, officer, or member of a corporation or company, does any of the
following acts with intent to defraud‐
(a) destroys, alters, mutilates, or falsifies, any book, document, valuable security, or
account, which belongs to the corporation or company, or any entry in any such book,
documents, or account, or is privy to any such act; or
(b) makes or is privy to making any false entry in any such book, document or
account; or
(c) omits or is privy to omitting any material particular from any such book, document
or account,
is guilty of a felony and is liable to imprisonment for seven years.
The offender cannot be arrested without warrant.