Section 448 of Companies Act, 2013 – Punishment for false statement

SECTION 448. PUNISHMENT FOR FALSE STATEMENT

[Effective from 12th September, 2013]

Save as otherwise provided in this Act, if in any return, report, certificate, financial statement, prospectus, statement or other document required by, or for, the purposes of any of the provisions of this Act or the rules made thereunder, any person makes a statement,—

(a)   which is false in any material particulars, knowing it to be false; or

(b)   which omits any material fact, knowing it to be material, he shall be liable under section 447.