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section 58A

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(Querist)
23 January 2010 what are the consequences of non compliance of section 58A?
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Professional Careers Academy

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Professional Careers Academy (Expert)
25 January 2010 As per Section 59, if any prospectus is issued in contravention of section 57 or 58,the company, and every person, who is knowingly a party to the issue thereof, shall be punishable with fine which may extend to fifty thousand rupees.
Further, Prosecution provisons have been delegated to SEBI.
regards,
CA Jatin Bansal
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