Skip to content


Bare Act Search Results

Home Bare Acts Phrase: prospectus

Companies Act, 1956 Part 3

Title: Prospectus and Allotment, and Other Matters Relating to Issue of Shares or Debentures

State: Central

Year: 1956

.....disclosed, he proves that he had no knowledge thereof; or (b) he proves that the non-compliance or contravention arose from an honest mistake of fact on his part; or (c) the non-compliance or contravention was in respect of matters which, in the opinion of the Court dealing with the case4[were immaterial] or was otherwise such as ought, in the opinion of that court, having regard to all the circumstances of the case, reasonably to be excused: Provided that no director or other person shall incur any liability in respect of the failure to include in a prospectus a statement with respect to the matters specified in clause 18 of Schedule II, unless it is proved that he had knowledge of the matters not disclosed. (5) This section shall not apply - (a) to the issue to existing members or debenture-holders of a company of a prospectus or form of application relating to shares in or debentures of the company whether an applicant for shares or debentures will or will not have the right to renounce in favour of other persons; or (b) to the issue of a prospectus or form of application relating to shares or debentures which are, or are to be, in all respects uniform with.....

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 62

Title: Civil Liability for Mis-statements in Prospectus

State: Central

Year: 1956

.....where, under section 58, the consent of a person is required to the issue of a prospectus and he has given that consent, or where, under1[***]sub-section (3) of section 60, the consent of a person named in a prospectus is required and he has given that consent, he shall not, by reason of having given such consent, be liable under this sub-section as a person who has authorised the issue of the prospectus except in respect of an untrue statement, if any, purporting to be made by him as an expert. (2) No person shall be liable under sub-section (1), if he proves- (a) that, having consented to become a director of the company, he withdrew his consent before the issue of the prospectus, and that it was issued without his authority or consent; (b) that the prospectus was issued without his knowledge or consent, and that on becoming aware of its issue, he forthwith gave reasonable public notice that it was issued without his knowledge or consent; (c) that, after the issue of the prospectus and before allotment thereunder, he, on becoming aware of any untrue statement therein, withdrew his consent to the prospectus and gave reasonable public notice of the withdrawal and of.....

View Complete Act      List Judgments citing this section

Companies Act, 2013, Section 26

Title: Matters to Be Stated in Prospectus

State: Central

Year: 2013

.....debentures of the company, whether an applicant has a right to renounce the shares or not under sub-clause (ii) of clause (a) of sub-section (1) of section 62 in favour of any other person; or (b) to the issue of a prospectus or form of application relating to shares or debentures which are, or are to be, in all respects uniform with shares or debentures previously issued and for the time being dealt in or quoted on a recognised stock exchange. (3) Subject to sub-section (2), the provisions of sub-section (1) shall apply to a prospectus or a form of application, whether issued on or with reference to the formation of a company or subsequently. Explanation.--The date indicated in the prospectus shall be deemed to be the date of its publication. (4) No prospectus shall be issued by or on behalf of a company or in relation to an intended company unless on or before the date of its publication, there has been delivered to the Registrar for registration, a copy thereof signed by every person who is named therein as a director or proposed director of the company or by his duly authorised attorney. (5) A prospectus issued under sub-section (1) shall not include a statement.....

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 44

Title: Prospectus or Statement Inlieu of Prospectus to Be Filed by Private Company on Ceasing to Be Private Company

State: Central

Year: 1956

.....a company, being a private company, alters its articles in such a manner that they no longer include the provisions which, under clause (iii) of sub-section (1) of section 3, are required to be included in the articles of a company in order to constitute it a private company, the company - (a) shall, as on the date of the alteration, cease to be a private company; and (b) shall, within a period of1[thirty] days after the said date, file with the Registrar either a prospectus or a statement in lieu of prospectus, as specified in sub-section (2). (2) (a) Every prospectus filed under sub-section (1) shall state the matters specified in Part I of Schedule II and set out the reports specified in Part II of that Schedule, and the said Parts I and II shall have effect subject to the provisions contained in Part III of that Schedule. (b) Every statement in lieu of prospectus filed under sub-section (1) shall be in the form and contain the particulars set out in Part I of Schedule IV, and in the cases mentioned in Part II of the Schedule, shall set out the reports specified therein, and the said Parts I and II shall have effect subject to the provisions contained in Part III of.....

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 60A

Title: Filing of Shelf Prospectus

State: Central

Year: 1956

.....memorandum is filed every time an offer of securities is made, such memorandum together with the shelf prospectus shall constitute the prospectus. Explanation.-For the purpose of this section,- (a) "financing" means making loans to or subscribing in the capital of, a private industrial enterprise engaged in infrastructural financing or, such other company as the Central Government may notify in this behalf; (b) "shelf prospectus" means a prospectus issued by any financial institution or bank for one or more issues of the securities or class of securities specified in that prospectus.] _____________________ 1. Inserted by Act 53 of 2000, Section 22 (w.e.f. 13-12-2000).

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 60

Title: Registration of Prospectus

State: Central

Year: 1956

.....and if a prospectus is so issued, it shall be deemed to be a prospectus a copy of which has not been delivered under this section to the Registrar. (5) If a prospectus is issued without a copy thereof being delivered under this section to the Registrar or without the copy so delivered having endorsed thereon or attached thereto the required consent or documents, the company, and every person who is knowingly a party to the issue of the prospectus, shall be punishable with fine which may extend to2[fifty thousand rupees]. ______________________ 1. Substituted by Act 65 of 1960, Section 17, for sub-section (3) (w.e.f. 28-12-1960). 2. Substituted by Act 53 of 2000, Section 21, for "five thousand rupees" (w.e.f. 13-12-2000).

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 70

Title: Prohibition of Allotment in Certain Cases Unless Statement in Lieu of Prospectus Delivered to Registrar

State: Central

Year: 1956

.....to mislead, the statement in lieu of prospectus shall be deemed, in respect of such omission, to be a statement in lieu of prospectus in which an untrue statement is included. (7) For the purposes of sub-section (5) and clause (a) of sub-section (6), the expression "included" when used with reference to a statement in lieu of prospectus, means included in the statement in lieu of prospectus itself or contained in any report or memorandum appearing on the face thereof, or by reference incorporated therein, or issued therewith. _____________________ 1. Substituted by Act 53 of 2000, Section 28, for "one thousand rupees" (w.e.f. 13-12-2000). 2. Substituted by Act 53 of 2000, Section 28, for "five thousand rupees" (w.e.f. 13-12-2000).

View Complete Act      List Judgments citing this section

Companies Act, 2013, Section 31

Title: Shelf Prospectus

State: Central

Year: 2013

.....applications for the allotment of securities along with advance payments of subscription before the making of any such change, the company or other person shall intimate the changes to such applicants and if they express a desire to withdraw their application, the company or other person shall refund all the monies received as subscription within fifteen days thereof. (3) Where an information memorandum is filed, every time an offer of securities is made under sub-section (2), such memorandum together with the shelf prospectus shall be deemed to be a prospectus. Explanation.--For the purposes of this section, the expression "shelf prospectus" means a prospectus in respect of which the securities or class of securities included therein are issued for subscription in one or more issues over a certain period without the issue of a further prospectus.

View Complete Act      List Judgments citing this section

Companies Act, 2013, Section 32

Title: Red Herring Prospectus

State: Central

Year: 2013

(1) A company proposing to make an offer of securities may issue a red herring prospectus prior to the issue of a prospectus. (2) A company proposing to issue a red herring prospectus under sub-section (1) shall file it with the Registrar at least three days prior to the opening of the subscription list and the offer. (3) A red herring prospectus shall carry the same obligations as are applicable to a prospectus and any variation between the red herring prospectus and a prospectus shall be highlighted as variations in the prospectus. (4) Upon the closing of the offer of securities under this section, the prospectus stating therein the total capital raised, whether by way of debt or share capital, and the closing price of the securities and any other details as are not included in the red herring prospectus shall be filed with the Registrar and the Securities and Exchange Board. Explanation.--For the purposes of this section, the expression "red herring prospectus" means a prospectus which does not include complete particulars of the quantum or price of the securities included therein.

View Complete Act      List Judgments citing this section

Companies Act, 1956 Section 603

Title: Dating of Prospectus and Particulars to Be Contained Therein

State: Central

Year: 1956

.....disclosed, he proves that he had no knowledge thereof; or (b) he proves that the non-compliance or contravention arose from an honest mistake of fact on his part; or (c) the non-compliance or contravention was in respect of matters which, in the opinion of the court dealing with the case, were immaterial, or was otherwise such as ought in the opinion of that court, having regard to all the circumstances of the case, reasonably to be excused: Provided that, in the event of failure to include in a prospectus a statement with respect to the matters contained in clauses 18 of Schedule II, no director or other person shall incur any liability in respect to the failure, unless it be proved that he had knowledge of the matters not disclosed. (5) This section-- (a) shall not apply to the issue to existing members or debenture holders of a company of a prospectus or form of application relating to shares in or debentures of the company, whether an applicant for shares or debentures will or will not have the right to renounce, in favour of other persons; and (b) except in so far as it requires a prospectus to be dated, shall not apply to the issue of a prospectus relating to.....

View Complete Act      List Judgments citing this section
  • << Prev.

Sign-up to get more results

Unlock complete result pages and premium legal research features.

Start Free Trial




Save Judgments// Add Notes // Store Search Result sets // Organize Client Files //