Companies Act, 2013

Section - 35 - Civil liability for mis-statements in prospectus

Civil liability for mis-statements in prospectus.

35. (1) Where a person has subscribed for securities of a company acting on any statement included, or the inclusion or omission of any matter, in the prospectus which is misleading and has sustained any loss or damage as a consequence thereof, the company and every person who-

(a)-is a director of the company at the time of the issue of the prospectus;
(b)-has authorised himself to be named and is named in the prospectus as a director of the company, or has agreed to become such director, either immediately or after an interval of time;
(c)-is a promoter of the company;
(d)-has authorised the issue of the prospectus; and
(e).... To read the full section download the app from Google Play store