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Corporate Fraud and Criminal Liability of Directors
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Dr. Smita Satapathy
Assistant Professor at Alliance School of Law, Alliance University, Bengaluru, India
Abstract
A corporate fraud happens when a company intentionally alters its information to increase its market position. It can happen even when an employee of an organization, with his or her knowledge, commits fraud through embezzlement, corruption, or making false expense claims for financial benefit. According to the Report of the Nation's 2016 global Fraud Survey, fraud costs an average organization 5% of its revenue in a given year. Scams are a part of business history in India. It has the potential to be disastrous for the organization, its stakeholders, and the broader public. Certain sections about corporate fraud have been incorporated into the revised edition of the Companies Act, 2013, which encapsulates the idea of fraud and includes provisions for severe punishment.
Keywords
Type
Research Paper
Information
International Journal of Law Management and Humanities, Volume 5, Issue 3, Page 1148 - 1161
DOI: https://doij.org/10.10000/IJLMH.113171Creative Commons
This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
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