Business Studies, asked by akashkanojiya6326, 2 months ago

Who are liable for misstatement in a prospectus?

Answers

Answered by naitikgarg484
1

Answer:

Section 35 of the Companies Act provides for civil liability for misstatement in prospectus. Under Section 36, those liable to pay compensation include the directors of the company at the time of the issue of the prospectus and the promoters, among others, to every person who has sustained loss or damage.

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