Sections 128-129 of the Act deal with punishment for fraud in companies and the manner in which investigations of such fraud are conducted.
Section 36 of Companies Act deals with criminal liability of companies for fraudulently inducing persons to invest money, while Section 447 relates to punishment for fraud.
Corporate fraud is an act that misleads people by false representation of facts or wrongful concealment of facts, which results in an unethical or illegal gain.
Section 447 of the Companies Act, 2013 (‘Act’) provides for the punishment of fraud in company matters. The offence of fraud is punishable, on conviction, with imprisonment, a fine or both. In recent years, with increased frauds, the Indian regulators have deemed it most apt and important to regulate the frauds in company matters.
Detect suspicious activities with money trail to identify Financial Frauds in India. How we can Identify money trail in cases of financial frauds Learn the best way to spot fraud and stop it early.
Understand the types of financial frauds perpetrated by companies and how an auditor can help detect them. Learn more with this article from India
The digital age has brought with it a host of new opportunities, including the ability to conduct business electronically. However, with this newfound convenience comes the potential for fraud, which can have a devastating impact on an organisation’s finances and reputation.
When it comes to fraud in organizations, know the red flags: employee theft, financial fraud and more. Auditors must review financial statements, governance documents, employee files to spot differences & check for accuracy.
This Practitioner’s Guide to Forensic Auditing will discuss what it is, its different types, how to start it, and an audit plan. Learn more here.
Digital scams are becoming increasingly common in this day and age. With so many transactions taking place online and more vulnerable people using the internet, scammers have found new methods of exploiting people for their own personal gain.
