Companies Act 2013, goes beyond professional liability for fraud and extends to personal liability if a company continues. In the context, you are required to examine and answer Yes or No whether following are frauds in
CS Professional · Internal and Forensic Audit · PYQS · June 2026
Companies Act 2013, goes beyond professional liability for fraud and extends to personal liability if a company continues. In the context, you are required to examine and answer Yes or No whether following are frauds in terms of Companies Act or not, attracting penalty under section 447 of the Companies Act 2013. If yes, name the designation of the responsible officer. Furnishing false information or suppressing any material information of which he or she is aware.
Answer & Explanation:
Yes, furnishing false information or suppressing any material information of which he or she is aware is fraud in terms of Companies Act, 2013 and therefore, the person required to provide information shall be responsible officer.
Topics: Corporate Governance
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