What is the punishment for personation etc of securities? Section 38 of Indian Companies Act 2013

 

 

Section 38 Punishment for personation etc of Securities - Indian Companies Act 2013

 

As per Section 38 of Indian Companies Act 2013 personation for securities is a punishable offence. Provision in the Companies Act 2013 related to Punishment for personation etc of Securities is as under.

 

(1) Any person who—


(a) makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities; or


(b) makes or abets making of multiple applications to a company in different names or in different combinations of his name or surname for acquiring or subscribing for its securities; or


(c) otherwise induces directly or indirectly a company to allot, or register any transfer of, securities to him, or to any other person in a fictitious name, shall be liable for action under section 447.


(2) The provisions of sub-section (1) shall be prominently reproduced in every prospectus issued by a company and in every form of application for securities.


(3) Where a person has been convicted under this section, the Court may also order disgorgement of gain, if any, made by, and seizure and disposal of the securities in possession of, such person.


(4) The amount received through disgorgement or disposal of securities under subsection (3) shall be credited to the Investor Education and Protection Fund.

 

Section 21 to 40 of Indian Companies Act 2013

How to authenticate documents, proceedings and contracts of a Company? Section 21 of Indian Companies Act 2013

How to execute bills of exchange etc? Section 22 of Indian Companies Act 2013

What are the methods to issue securities by Companies? Section 23 of Indian Companies Act 2013 - Public offer and Private Placement

What are the Powers of Securities and Exchange Board (S E B I) to regulate, issue and transfer of securities? Section 24 of Indian Companies Act 2013

Document containing offer of securities for sale to be deemed prospectus? Section 25 of Indian Companies Act 2013

What are the matters to be stated in Prospectus? Section 26 of Indian Companies Act 2013. Contents of Prospectus. What is the provision for punishment against violation of law regarding issue of Prospectus?

What is the effect of variation in terms of contract or objects in prospectus? Section 27 of Indian Companies Act 2013

Can members of a company offer shares for sale? Section 28 of Indian Companies Act 2013 - offer of sale of shares by certain members of the Company

Public offer of securities should be in dematerialized form. Section 29 of Indian Companies Act 2013

What are the methods to advertise Prospectus? What are the conditions? Section 30 of Indian Companies Act 2013

What is Shelf Prospectus? Who can file prepare and file it? What are the conditions? Section 31 of Indian Companies Act 2013

What is Red Herring Prospectus? Who can issue red herring prospectus? What are the terms? Section 32 of Indian Companies Act 2013

How to issue Application forms for Securities? What is the procedure? Section 33 of Indian Companies Act 2013

What is the criminal liability for mis statement in Prospectus? What is the punishment? Section 34 of Indian Companies Act 2013

What is the Civil liability for mis statement in the Prospectus? Who is punishable? Section 35 of Indian Companies Act 2013

What is the punishment for fraudulently inducing persons to invest money? Section 36 of Indian Companies Act 2013

How can the affected persons act against company for mis leading statements? Section 37 of Indian Companies Act 2013

What is the punishment for personation etc of securities? Section 38 of Indian Companies Act 2013

How to allot securities by Company? What the is process? Section 39 of Indian Companies Act 2013

How to dealt with Securities? Is it necessary to deal with Stock Exchanges? Section 40 of Indian Companies Act 2013. What is the punishment for violation?

 

 

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