Finance : The paper shows that loan fraud persists due to enforcement failures, not lack of legal provisions. It highlights delays in detect...
CA, CS, CMA : This article explains how forensic accounting has exposed major corporate frauds that escaped traditional audits. The key takeaway...
Corporate Law : This explains how courts can order the release of money seized or frozen during cyber-fraud investigations. The key takeaway is th...
Corporate Law : Explore the methods forensic auditors use to detect financial fraud, from red flags to data analytics, and their critical role i...
CA, CS, CMA : Examine recent accounting frauds in India, their root causes, and the corrective actions taken by professional bodies, government,...
Fema / RBI : The government informed Parliament about measures taken with RBI and other agencies to identify and block illegal loan apps operat...
Finance : Government responds to rising QR code frauds, highlighting initiatives and awareness campaigns to safeguard digital payments in ru...
Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...
Corporate Law : SFIO investigates 36 corporate fraud cases in the past 3 years, with 41 cases filed and 25 convictions. MRAU enhances fraud detect...
Corporate Law : Delhi Police Cyber Crime & CEIB warn against fake emails alleging child pornography & cyber crimes. Stay vigilant & report any sus...
Income Tax : Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section...
Goods and Services Tax : Supreme Court's ruling in Sheetal Mittal vs. State of Rajasthan, where anticipatory bail was denied due to fabricated GST number a...
Corporate Law : HC held that domain name https://india-mart.co/ shall be immediately blocked. MeitY/DoT to issue blocking orders within 24 hours f...
CA, CS, CMA : Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the A...
CA, CS, CMA : CBI Vs. Devendra Chaturvedi (Special Court for CBI at Greater Bombay) In nutshell, it is the allegation against accused that they ...
Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...
Fema / RBI : Fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit...
Fema / RBI : It is reiterated that all Concurrent Auditors are required to:- To cross verify that all outbound SWIFT messages vis-a-vis their c...
Fema / RBI : There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab Nat...
In recent times, India has seen an exponential increase in the number of fraudulent activities reported. According to the National Crime Records Bureau, India’s total reported fraud cases rose from 352 in 2015 to 2103 in 2019, which is a 496% jump in a span of five years.
Author aims to examine adequacy of Companies Act, 2013 against corporate frauds through analysing the definition of fraud as per Section 447 of Companies Act, 2013 and flaws that are present with reporting duty of auditors and independent directors.
Financial fraud refers to any illegal or unethical activity that is committed with the intent to deceive or defraud individuals or organizations for financial gain.
Detect unethical financial practices in Indian businesses with our comprehensive guide. Learn to recognize red flags and implement strategies for prevention.
Providing false evidence to Registrar or other authorities appointed under Companies Act, 2013 is a punishable offence with fine up to INR 1 lakh or 6 months jail or both, as per Section 449
Learn how Section 339 of the Companies Act 2013 addresses fraudulent conduct of business in India. Analysis of implications & effects on shareholders & stakeholders.
Section 212 of Companies Act, 2013 deals with investigation into the affairs of company by Serious Fraud Investigation Office (SFIO).
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.
