https://www.taxtmi.com/caselaws?id=96967 A balance-sheet entry describing a loan as "secured by a first mortgage" was held not to constitute an offence under Section 282 because the statement was not plainly false on the special facts: written agreements provided for execution of a mortgage and an option for the mortgagee to insist on it, giving the loan an intermediate character between secured and unsecured. Section 132(1) and Form F require disclosure of the general nature of liabilities, and Section 282 imports knowledge of falsity; on the facts the appellant did not knowingly make a false statement, conviction set aside and acquittal ordered. en-us Tue, 25 Nov 1947 00:00:00 +0530 Fri, 13 Jan 2012 14:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96967 A balance-sheet entry describing a loan as "secured by a first mortgage" was held not to constitute an offence under Section 282 because the statement was not plainly false on the special facts: written agreements provided for execution of a mortgage and an option for the mortgagee to insist on it, giving the loan an intermediate character between secured and unsecured. Section 132(1) and Form F require disclosure of the general nature of liabilities, and Section 282 imports knowledge of falsity; on the facts the appellant did not knowingly make a false statement, conviction set aside and acquittal ordered. Case-Laws Companies Law Tue, 25 Nov 1947 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96967