Professional Documents
Culture Documents
MISSTATEMENT OR
UNTRUE STATEMEN
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CONSEQUENCES OF
/REMEDIES FOR
MISSTATEMENT
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• A. Civil Liability:
• The directors, promoters etc. have liability
towards every person who subscribes on the
faith of the misleading prospectus. In other
words, every aggrieved party has the following
remedies against the directors etc. :
• (1) Damages for misstatement.
• (2) Damages for omission .and
• (3) Damages under the general law.
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• B. Criminal Liability of
Directors or Promoters etc.
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Thank You
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