Companies Act, 1956 IMI

Remedies Liability for Mis-statements in a Prospectus Civil Liability (Sec.62 & 56) Criminal Liability (Sec. 63) Against the Company Against the Promoters, Directors, other Officers and Experts Against the Company Against the Promoters, Directors and Other officers (not available against experts) Rescission of Contract Claim for Damages Damages Compensation under Sections 62 and 56 Fine upto Rs. 50,000 Imprisonment upto 2 years Fine upto Rs.50,000 Both

Remedies Criminal Liability (Sec. 63) Civil Liability (Sec.62 & 56) Both Fine upto Rs.50,000 Imprisonment upto 2 years Compensation under Sections 62 and 56 Damages Liability for Mis-statements in a Prospectus Damages Compensation under Sections 62 and 56 Imprisonment upto 2 years Fine upto Rs.50,000 Both Rescission of Contract Claim for Damages Fine upto Rs. 50,000 Against the Promoters, Directors and Other officers (not available against experts) Against the Company Against the Promoters, Directors, other Officers and Experts Against the Company Civil Liability (Sec.62 & 56) Criminal Liability (Sec. 63)