Non disclosure in RHP
This query is : Open
26 December 2009
Dear Sir,
In the event of inadvertent non disclosure in the RHP what remedy is open to the investor in the IPO after the issuer Company has allotted the shares.
S D Shenvi
In the event of inadvertent non disclosure in the RHP what remedy is open to the investor in the IPO after the issuer Company has allotted the shares.
S D Shenvi
26 December 2009
Investor has two remedies: -
1. Remedy against the company - (i) Rescind the contract and (ii) sue for damage for deceit
2. Remedy against director/promotor: - (i) damage for fraudulent misrepresentation (ii) Compensation for untrue statement (iii) damage for non-compliance of Sec 56 of The Companies Act.
Regards
CS Pawan kumar Baid
1. Remedy against the company - (i) Rescind the contract and (ii) sue for damage for deceit
2. Remedy against director/promotor: - (i) damage for fraudulent misrepresentation (ii) Compensation for untrue statement (iii) damage for non-compliance of Sec 56 of The Companies Act.
Regards
CS Pawan kumar Baid
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