Question

Which one of the following is true ?

• A. Any person guilty of fraud of an amount of at least 10 lakhs or one percent of the turnover of a company, whichever is lower, will be liable under s. 447 of Companies Act, 2013.
• B. Serious fraud investigation office investigates frauds relating to partnerships.
• C. Chief financial officer does not fall under the category of whole time key managerial personnel.
• D. All the above are true.

Answer 1

Answer: (A)

Any person guilty of fraud of an amount of at least 10 lakhs or one percent of the turnover of a company, whichever is lower, will be liable under s. 447 of Companies Act, 2013.

Answer 2

The correct option is (A):Any person guilty of fraud of an amount of at least 10 lakhs or one percent of the turnover of a company, whichever is lower, will be liable under s. 447 of Companies Act, 2013 .