Non disclosure in RHP
This query is : Open
26 December 2009
Dear Sir,
In the event of inadvertent non disclosure in the RHP what remedy is open to the investor in the IPO after the issuer Company has allotted the shares.
S D Shenvi
In the event of inadvertent non disclosure in the RHP what remedy is open to the investor in the IPO after the issuer Company has allotted the shares.
S D Shenvi
26 December 2009
Investor has two remedies: -
1. Remedy against the company - (i) Rescind the contract and (ii) sue for damage for deceit
2. Remedy against director/promotor: - (i) damage for fraudulent misrepresentation (ii) Compensation for untrue statement (iii) damage for non-compliance of Sec 56 of The Companies Act.
Regards
CS Pawan kumar Baid
1. Remedy against the company - (i) Rescind the contract and (ii) sue for damage for deceit
2. Remedy against director/promotor: - (i) damage for fraudulent misrepresentation (ii) Compensation for untrue statement (iii) damage for non-compliance of Sec 56 of The Companies Act.
Regards
CS Pawan kumar Baid
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
