Section 37 Action by affected persons – Companies Act 2013

Amended and updated notes on section 37 of Companies Act 2013. Detail discussion on provisions and rules related to action by affected persons.

Amended and updated notes on section 37 of Companies Act 2013. Detail discussion on provisions and rules related to action by affected persons.

Chapter III (Sections 2342) of the Companies Act, 2013 (CA 2013) deals with the provisions related to prospectus and allotment of securities. Section 37 of CA 2013 provides for action by affected persons.

Recently, we have discussed in detail section 36 (Punishment for fraudulently inducing persons to invest money) of CA 2013. Today, we learn the provisions of section 37 of Companies Act 2013 read with the Companies (Prospectus and Allotment of Securities) Rules, 2014.

Section 37 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 2754(E) issued dated 12.09.2013. This notification was come into force from 12th September, 2013 i.e. the commencement date of section 37 is 12-9-2013.

Name of ActThe Companies Act 2013
Enacted byParliament of India
Administered byMinistry of Corporate Affairs (MCA)
Number of Chapters29
Number of Sections484 (470-43+57)
Number of Schedules7
You are reading:
Chapter No.III
Chapter NameProspectus and Allotment of Securities
Section No.37
Section NameAction by affected persons
Monthly Updated EditionCompany Law PDF

Section 37 of Companies Act 2013: Action by affected persons

Section 37 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.

A suit may be filed or any other action may be taken under section 34 or section 35 or section 36 by any person, group of persons or any association of persons affected by any misleading statement or the inclusion or omission of any matter in the prospectus.

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