Section 448: Punishment for false statement
This section is for punishing individuals who make false statements in documents required by the Act.
The section, clause by clause
What the section says
In plain terms
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.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Ins. by Act 1 of 2018, s. 92 (w.e.f. 9-2-2018).
- 2. The proviso ins. by s. 92, ibid. (w.e.f. 9-2-2018).
- 3. Subs. by Act 22 of 2019, s. 41, for “twenty lakh rupees” (w.e.f. 2-11-2018).
This section refers to
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.