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SrideviSridevi asked 2 months ago

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
RaviRavi Staff answered 2 months ago

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)

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