Section 337 of CA 2013 : Section 337: Penalty For Frauds By Officers
CA 2013
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Explanation using Example
Imagine a scenario where Mr. John is the Chief Financial Officer (CFO) of XYZ Pvt. Ltd. The company is facing financial difficulties and is on the verge of bankruptcy. To keep the company afloat, Mr. John decides to take drastic measures:
- He approaches a supplier and, using false financial statements, convinces them to provide goods on credit, assuring them that the company is financially stable.
- Knowing that the company cannot pay its debts, he transfers company assets to his per...
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