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TypeBare Act JurisdictionCentral Government

Companies Act, 1956 Section 63

Criminal liability for mis-statements in prospectus

~1 min read
https://sooperkanoon.com/act/451253

Bare act section · Research

About this section

Companies Act, 1956 Section 63 is part of Companies Act, 1956 - Criminal liability for mis-statements in prospectus. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) Where a prospectus issued after the commencement of this Act includes any untrue statement, every person who authorised the issue of the prospectus shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to [fifty] thousand rupees, or with both, unless he proves either that the statement was immaterial or that he had reasonable ground to believe, and did up to the time of the issue of the prospectus believe, that the statement was true.

(2) A person shall not be deemed for the purposes of this section to have authorised the issue of a prospectus by reason only of his having given-

(a) the consent required by (section 58) to the inclusion therein of a statement purporting to be made by him as an expert, or (b) the consent required by [***] sub-section (3) of (section 60).

Frequently asked questions

What does Companies Act, 1956 Section 63 provide?

Section Section 63 of the Companies Act, 1956 (Criminal liability for mis-statements in prospectus) is reproduced on this page as part of the Companies Act, 1956. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Companies Act, 1956 Section 63?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Companies Act, 1956 Section 63. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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