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Mr. Sam committed a fraud amounting to Rs. 6 Lakhs. Company accuses that the repercussion of the fraud is affecting Public Interest at large. Mr. Ram is of the opinion that since the amount of fraud is less than Rs. 10 Lacs, he is liable to a fine of upto Rs. 20 Lacs. Is his…

March 30, 2020

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Mr. Ram committed a fraud amounting to Rs. 6 Lakhs. Mr. Ram is of the opinion that he is liable to a fine of Rs. 6 Lacs or max upto 18 lacs. Is his contention correct?

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Mr. Tom committed a fraud amounting to Rs. 14 Lakh. Turnover of the company is 2200 Lacs. Mr. Ram is of the opinion that since fraud involved does not amount to 1% of the turnover of the Company; he is liable to a fine of Rs. 20 Lacs or jail upto 5 years or both.…

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