Punishment for false statement

Save as otherwise provided in this Act, if in any return, report, certificate, financial statement, prospectus , statement or other document required by, or for, the purposes of any of the provisions of this Act or the rules made thereunder, any person makes a statement,—

(a)

which is false in any material particulars, knowing it to be false; or

(b)

which omits any material fact, knowing it to be material,

he shall be liable under section 447.

Notes, amendments & references (2)

Explanation. – For the purposes of this Act, the term ‘start-up’ or “start-up company” means a private company incorporated under the Companies Act, 2013 (18 of 2013) or the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.

Refer circular 10/2014. To view the circular, Click Here

Section 447

Section 448

Section 449