https://www.taxtmi.com/caselaws?id=96572 A prospectus may be false in a material particular even where its individual words are literally accurate, if it is read as a whole and deliberately conveys a misleading impression by omission or concealment. Section 84 of the Larceny Act, 1861 was construed broadly so that the relevant inquiry was whether the document was concocted to deceive prospective investors. The evidence showed the prospectus presented the company as financially sound and suitable to support the debentures while withholding facts that made that implication false. Knowledge of the true position and intent to induce subscriptions were sufficiently proved, so the conviction was upheld. en-us Wed, 04 Nov 1931 00:00:00 +0530 Fri, 16 Feb 2018 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96572 A prospectus may be false in a material particular even where its individual words are literally accurate, if it is read as a whole and deliberately conveys a misleading impression by omission or concealment. Section 84 of the Larceny Act, 1861 was construed broadly so that the relevant inquiry was whether the document was concocted to deceive prospective investors. The evidence showed the prospectus presented the company as financially sound and suitable to support the debentures while withholding facts that made that implication false. Knowledge of the true position and intent to induce subscriptions were sufficiently proved, so the conviction was upheld. Case-Laws Companies Law Wed, 04 Nov 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96572