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Remedies Against The Company: - Prospectus And Statement In Lieu Of Prospectus
Business Environment and Law-Prospectus And Statement In Lieu Of Prospectus
Remedies Against The Company: - Prospectus And Statement In Lieu Of Prospectus
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Remedies Against The Company: - Prospectus And Statement In Lieu Of Prospectus
Remedies Against The Company:
Any person who, takes shares from the company may,
He must, however, take action to rescind the contract:
A shareholder who had been induced to take shares may claim :
The liability of a promoter or a director or any other person who has
authorized the issue of misleading prospectus is two-fold ,viz.,
Any person who, takes shares from the company may,
- Rescind the contract to take the shares
- Claim damages.
He must, however, take action to rescind the contract:
- within a reasonable time,
- before proceedings to wind up the
company have commenced, and
- before he does anything which is
inconsistent with the right to repudiate, e.g., to accept dividends.
Remedies Against Directors Or Promoters:
A shareholder who had been induced to take shares may claim :
- Damages for fraudulent misrepresentation
- Compensation under Section 62;
- Damages for non-compliance with
the requirements of Section 56 regarding contents of the prospectus.
- Civil liability and
- Criminal liability
Tags : Business Environment and Law-Prospectus And Statement In Lieu Of Prospectus
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