Costing Standards Accounting Standards E-Forms

The Companies Act, 1956

General (Section 615 to Section 658)

Section 628- Penalty for false statements.

Section 628- Penalty for false statements.

If in any return, report, certificate, balance sheet, prospectus, statement or other document required by or for the purposes of any of the provisions of this Act, any person makes a statement -

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

(b) which omits any material fact, knowing it to be material;

he shall, save as otherwise expressly provided in this Act, be punishable with imprisonment for a term which may extend to two years, and shall also be liable to fine.