Expert independence required for prospectus statements; allowed only if unconnected with company formation, promotion, or management. A prospectus inviting subscriptions for shares or debentures must not include a statement purporting to be made by an expert unless the expert is a person who is not, and has not been, engaged or interested in the formation or promotion, or in the management, of the company.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Expert independence required for prospectus statements; allowed only if unconnected with company formation, promotion, or management.
A prospectus inviting subscriptions for shares or debentures must not include a statement purporting to be made by an expert unless the expert is a person who is not, and has not been, engaged or interested in the formation or promotion, or in the management, of the company.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.