Chamber of Prakash K. Pandya

Section 36 Punishment for fraudulently inducing persons to invest money

Punishment for fraudulently inducing persons to invest money

CHAPTER III
PROSPECTUS AND ALLOTMENT OF SECURITIES
PART I.—Public offer

[Section 36 is brought to force with effect from September 12, 2013.]

Section 36. Any person who, either knowingly or recklessly makes any statement, promise or forecast which is false, deceptive or misleading, or deliberately conceals any material facts, to induce another person to enter into, or to offer to enter into,—

(a) any agreement for, or with a view to, acquiring, disposing of, subscribing for, or underwriting securities; or

(b) any agreement, the purpose or the pretended purpose of which is to secure a profit to any of the parties from the yield of securities or by reference to fluctuations in the value of securities; or

(c) any agreement for, or with a view to obtaining credit facilities from any bank or financial institution,

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