by Raghav Goyal

In General the term ‘Fraud’ means if a person tricks another person with a motive to get wrongful gain.

Today we are here to discuss Fraud Under Companies Act, 2013 which is given under Section 447 which deals with punishment and penalty in relation to fraud. Before we go through punishment we must understand the meaning of Fraud under Companies Act, 2013 which is explained under Explanation to section 447

Wrongful Gain or Loss means the gain or loss by unlawful means of property to which the person gaining is not legally entitled

Punishment realted to fraud is divided under two parts in the Companies Act,2013

As per the Section, there is a harsh punishment in view of Fraud.

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