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TypeBare Act JurisdictionCentral Government

Companies Act, 2013, Section 38

Punishment for Personation for Acquisition, Etc., of Securities

~1 min read
https://sooperkanoon.com/act/62415

Bare act section · Research

About this section

Companies Act, 2013, Section 38 is part of Companies Act, 2013, - Punishment for Personation for Acquisition, Etc., of Securities. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

(1) Any person who--

(a) makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities; or

(b) makes or abets making of multiple applications to a company in different names or in different combinations of his name or surname for acquiring or subscribing for its securities; or

(c) otherwise induces directly or indirectly a company to allot, or register any transfer of, securities to him, or to any other person in a fictitious name,

shall be liable for action under section 447.

(2) The provisions of sub-section (1) shall be prominently reproduced in every prospectus issued by a company and in every form of application for securities.

(3) Where a person has been convicted under this section, the Court may also order disgorgement of gain, if any, made by, and seizure and disposal of the securities in possession of, such person.

(4) The amount received through disgorgement or disposal of securities under subsection (3) shall be credited to the Investor Education and Protection Fund.

Frequently asked questions

What does Companies Act, 2013, Section 38 provide?

Section Section 38 of the Companies Act, 2013, (Punishment for Personation for Acquisition, Etc., of Securities) is reproduced on this page as part of the Companies Act, 2013,. 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, 2013, Section 38?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Companies Act, 2013, Section 38. 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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