Abridged form of prospectus mean as per companies act 2013



Posted on 23-03-2016        By ADMIN



Abridged form of prospectus mean as per companies act 2013

The term has been defined in the definitional part of the supplementary. 

Issue of application forms for securities- This section 33 of the Companies Act, 2013 provides that every form of application issued for the purchase of any securities of a company shall be accompanied by an abridged prospectus, except where form of application was issued bonafidely inviting a person to enter an underwriting agreement with respect to such securities, or in relation to securities which were not offered to the public. A copy of the prospectus shall be furnished to any person, before the closing of the subscription list and the offer. *If a company makes any default the company shall be punishable with fine of amount 50, 000/- for each fault. 




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