The Companies Act, 1956
68A. Personation for acquisition, etc., of shares.
1[68A. Personation for acquisition, etc., of shares.
(1) Any person who
(a)makes in a fictitious name an application to a company for acquiring, or subscribing for, any shares therein, or
(b)otherwise induces a company to allot, or register any transfer of, shares therein to him, or any other person in a fictitious name,
shall be punishable with imprisonment for a term which may extend to five years.
(2) The provisions of sub-section (1) shall be prominently reproduced in every prospectus issued by the company and in every form of application for shares which is issued by the company to any person.]
—————————–
1. Ins. by Act 31 of 1965, sec. 8 (w.e.f. 15-10-1965).
