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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 29 prohibits misleading info in investment offers; penalties apply unless statements were believed true or immaterial.</h1> Regulation 29 of the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999, mandates that offer documents and advertisement materials must not be misleading or contain false statements or opinions. If such misleading information is included, individuals responsible, such as directors of the Collective Investment Management Company or those who issued the offer document, may face penalties under the Act. However, they can defend themselves by proving that the misleading statement was immaterial or that they had reasonable grounds to believe the statement was true at the time of issuance.
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