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PUNISHMENT FOR FALSE STATEMENT [SECTION 448]
If in any return, report, certificate, financial statement, prospectus, statement or other document or other document required by or for the purposes of any provision of this Act or rules made there under, 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.
Simply, knowing making a false statement in material fact or omit any material in a statement in relation to the Companies Act.
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