Section 449 of the Companies Act, 2013: Punishment for false evidence

#Section449

#CompaniesAct

#False

#Evidence

#Punishment

#Affidavit

#law

#judicial

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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.