Hi sir,This is wrt a question for reporting requirements under companies act and CARO,2020 CNO:407.020
Fraud committed against the company by an officer/vendor
Company has committed major fraud against its customers
How are these points similar yet different?
How are compliance u/s143(12) different from clause(xi) of caro 2020
1 Answers
in CARO we have report all frauds on the company or by the company
in sec 143(12) we have report frauds by officer or employee on the company
point 2 and 3 wont be reported under sec 143(12)
if we assume employee is involved in vendor fraud then reporting will be required under sec 143(12)