Basics of The Companies Act,2013

www.edutap.co.in
 Section 447

Any person who is found to be guilty of fraud

Fraud involving an amount of at Fraud involving an amount less

least ten lakh rupees or one per than ten lakh rupees or one per
cent. of the turnover of the cent. of the turnover of the
company, whichever is lower company, whichever is lower

• Imprisonment
• Minimum - six months • Imprisonment
• Maximum - ten years • Maximum -Five years
AND OR
• Fine • Fine
• Minimum - the amount involved in the fraud • Maximum - Fifty lakh rupees
• Maximum - three times the amount OR
involved in the fraud • both.

Where the fraud in question involves public interest, the term of imprisonment shall not be less than three years.
 Thanks

Share your feedback at anchit@edutap.co.in