Section 449 of the Companies Act, 2013: Punishment for false evidence
Updated: Oct 14, 2022
One of the most crucial sections for those testifying under the 2013 Act, this section corresponds to Section 629 of the 1956 Act.
According to Section 449, if a person knowingly provides false testimony in any of the following circumstances:
(a) During an examination under oath or solemn affirmation authorized by this Act;
(b) In an affidavit, deposition, or solemn affirmation related to the winding up of any company under this Act, or in any other circumstance related to a matter arising under this Act,
He will be subject to a fine of up to ten lakh rupees and a term of imprisonment that must not be less than three years but may go as high as seven.