Section 449 of the Companies Act, 2013: Punishment for false evidence
Updated: Oct 14
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.