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The Criminal liability for Mis-Statement in the Prospectus shall include a punishment with imprisonment for a term ranging from:
3 months to 1 year
6 Months to 2 years
6 Months to 10 Years
3 Months to 10 Years
None of the above
As per Section 34 read with Section 447 of Companies Act, 2013 , mis-statement in prospectus has the same liability as that of fraud under section 447 of Companies Act, 2013 and the person guilty of fraud shall be punishable with imprisonment for a term ranging from six months to 10 years in addition to fine.
By: Vikas Goyal ProfileResourcesReport error
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