Can a company be sued for false advertising even if no one has been financially harmed yet?

Yes — beyond an individual consumer complaint (which typically does require you to have actually purchased and been affected by the product), the Central Consumer Protection Authority has the power to independently investigate and take action against false or misleading advertisements, including ordering their discontinuation and imposing penalties, without needing an individual complainant who has personally suffered financial loss.

You can report the misleading advertisement to the CCPA, or to the Advertising Standards Council of India, which handles complaints about advertising content specifically, even from people who haven't personally transacted with the company but are concerned about the public being misled.

This kind of regulatory action serves a broader public interest purpose — preventing harm to other consumers who might rely on the false claims — separate from any individual compensation claim. If you do have specific evidence of the false claims (screenshots, advertisements, product comparisons showing the discrepancy), including this with your report will help the investigation.