Facing Salary Delays: Is Holding the Company Laptop the Right Move for Security?

I am Harsh and joined a startup IT company a year back after completing my college. Please guide me on what I should do, and thanks in advance.

Salary Delay and Work Situation

I have joined a product-based startup, a registered IT company, a year back. As a startup, we easily accept there is a delay in salary, but for the last 5 months, my company hasn't paid me a salary. I have been waiting for the company to raise funds, but they are not giving a proper date for salary or funding.

For the past 2 months, they have declared work from home as they don't have funds for office rent. Meanwhile, I got a job in another company, and they didn't ask for a relieving letter from the previous one as I have mentioned my situation.

Laptop as Security for Unpaid Salary

Now, the previous company wants their laptop back as they came to know I have joined another company and want to release me without final settlement. I want to keep their laptop as security until my salary is released. Am I doing the right thing? I know I have to handle their laptop legally, but I don't think my salary will be deposited, so I am keeping it for security reasons. Is this the proper way? If not, please explain. What legal action can the company take in this situation?

Thank you,
Harsh
From Bengaluru

Retaining property belonging to the company can be termed theft. That will be a criminal offense. Company not paying you a salary will be a civil offense. How many months did you not get paid? Was it the same case with other employees also? Probably, the company is in a genuine problem and nothing much can be gained by pursuing the company or illegally holding onto property given on trust for a company job. Move on with a new job, return the laptop, and learn from this experience. There is no point in getting into litigation.