Companies Act, 1956

Section - 68A - Personation for acquisition, etc., of shares

[Personation for acquisition, etc., of shares.

68A.    (1) Any person who—

         (a)  makes in a fictitious name an application to a company for acquiring, or subscribing for, any shares therein, or

         (b)  otherwise induces a company to allot, or register any transfer of, shares therein to him, or any other person in a fictitious name,

shall be punishable with imprisonment for a term which may extend to five years.

(2) The provisions of sub-section (1) shall be prominently reproduced in every prospectus issued by the company and in every form of application for shares which is issued by the company to any person.]

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