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Glad Corporate Fraud Defined In Companies Bill: Lalit Kumar

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August 8: “I am glad we have a clear definition of fraud for the first time,” says Lalit Kumar, Partner at JSA, referring to the Companies Bill, 2012, passed by Rajya Sabha today. This will change the enforcement landscape in India as the bill also outlines the penalties for fraud. “The penalties have been laid down, which means that anyone thinking of any wrongdoing will be clear of its consequences,” he adds.