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Corporate Governance & Fraud Risk Management
book

Corporate Governance & Fraud Risk Management

by Balwinder Singh
January 2014
Intermediate to advanced content levelIntermediate to advanced
92 pages
3h 17m
English
Pearson Education India
Content preview from Corporate Governance & Fraud Risk Management
78 | Chapter 9
promoters. In order to create a camouage of
legal activity, such NBFCs may invest partially in
the stated objects of the company but a signicant
part of the funds are diverted.
In some cases, the diversion of funds is done in
a blatant manner, while in some other cases, inge-
nious ways to camouage the diversion take place.
One popular modus operandi is to show loans and
advances to a group companies or to a relatives of
the promoters who acquire property of a certain
value and after 1 or 2 years pay o the loans by
selling the same property to the main company at
a highly inated rate. In one case, it was seen that
a proper ...
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Publisher Resources

ISBN: 9789332540866