An allottee of shares in a Company brought an action against a Director in respect of...

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An allottee of shares in a Company brought an action against a Director in respect of false statements the in prospectus. The director contended that the statements were prepared by the promoters and he has relied on them. Is the Director liable under the circumstances? Do refers to the provisions of the Companies Act, of 2013. An allottee of shares in a Company brought an action against a Director in respect of false statements the in prospectus. The director contended that the statements were prepared by the promoters and he has relied on them. Is the Director liable under the circumstances? Do refers to the provisions of the Companies Act, of 2013.