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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 447: Fraud under 10 lakh rupees may lead to 5-year imprisonment, fine, or both.</h1> Section 447 of the principal Act is amended to specify that fraud involving at least ten lakh rupees or one percent of the company's turnover, whichever is lower, will be considered. Additionally, a new proviso states that if the fraud involves an amount less than ten lakh rupees or one percent of the turnover and does not affect public interest, the guilty party may face imprisonment up to five years, a fine up to twenty lakh rupees, or both.
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