https://www.taxtmi.com/acts?id=17744 Punishment for fraud in company affairs is tiered by monetary threshold and public interest: frauds of at least ten lakh rupees or one per cent of turnover attract six months to ten years imprisonment and fines not less than the amount involved and up to three times that amount; frauds involving public interest carry a minimum three-year term; lower-amount frauds not involving public interest may attract up to five years imprisonment or fines up to fifty lakh rupees or both. The section preserves other liabilities and defines fraud, wrongful gain, and wrongful loss. en-us Sat, 02 Mar 2013 16:40:35 +0530 Fri, 19 Dec 2025 12:59:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17744 Punishment for fraud in company affairs is tiered by monetary threshold and public interest: frauds of at least ten lakh rupees or one per cent of turnover attract six months to ten years imprisonment and fines not less than the amount involved and up to three times that amount; frauds involving public interest carry a minimum three-year term; lower-amount frauds not involving public interest may attract up to five years imprisonment or fines up to fifty lakh rupees or both. The section preserves other liabilities and defines fraud, wrongful gain, and wrongful loss. Act-Rules Companies Law Sat, 02 Mar 2013 16:40:35 +0530 https://www.taxtmi.com/acts?id=17744