https://www.taxtmi.com/caselaws?id=112399 A false statement in a prospectus may be inferred from later utilisation of public issue proceeds where the stated purpose was not genuinely intended, and the sufficiency of the defence is a matter for trial. Section 62 of the Companies Act, 1956 is a civil compensation provision and does not, by itself, support a criminal complaint by the Registrar. Section 68 requires specific allegations of false, deceptive or misleading inducement to invest. Limitation depends on when falsity could be discovered and is treated as a mixed question of law and fact. en-us Thu, 25 Jan 2007 00:00:00 +0530 Mon, 04 Feb 2013 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112399 A false statement in a prospectus may be inferred from later utilisation of public issue proceeds where the stated purpose was not genuinely intended, and the sufficiency of the defence is a matter for trial. Section 62 of the Companies Act, 1956 is a civil compensation provision and does not, by itself, support a criminal complaint by the Registrar. Section 68 requires specific allegations of false, deceptive or misleading inducement to invest. Limitation depends on when falsity could be discovered and is treated as a mixed question of law and fact. Case-Laws Companies Law Thu, 25 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112399