Misuse of Public Issue Funds u/s 62, 63, 68 and 628 of the Companies Act, 1956

Last updated: 07 September 2012

A number of complaints are received by the Government against companies involved in misuse of public issue funds relates to misuse by way of diversion of funds, non-fulfillment of terms and conditions for the completion of the projects as per the time schedule given in the prospectus, no-traceability of the companies and their directors; etc. Where a company is found violating the provisions of the Section 62, 63, 68 and 628 of the Companies Act, 1956, prosecutions are filed against t
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