https://www.taxtmi.com/caselaws?id=102349 Omission from a public issue prospectus of pending winding up and recovery proceedings was treated as a prima facie unfair or deceptive trade practice because material litigation can affect an ordinary prospective subscriber's assessment of the venture; belated public notice did not cure the initial non-disclosure, and the test was the likely effect on ordinary investors rather than expert legal opinion. On interim protection, the issue was not suspended and allotment was not stayed, but the use of funds raised through the issue was restrained until allotment was completed or the enquiry ended, whichever was earlier, to safeguard investors pending further proceedings. en-us Wed, 17 Feb 1993 00:00:00 +0530 Tue, 02 Apr 2019 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102349 Omission from a public issue prospectus of pending winding up and recovery proceedings was treated as a prima facie unfair or deceptive trade practice because material litigation can affect an ordinary prospective subscriber's assessment of the venture; belated public notice did not cure the initial non-disclosure, and the test was the likely effect on ordinary investors rather than expert legal opinion. On interim protection, the issue was not suspended and allotment was not stayed, but the use of funds raised through the issue was restrained until allotment was completed or the enquiry ended, whichever was earlier, to safeguard investors pending further proceedings. Case-Laws Companies Law Wed, 17 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102349