What is Shelf Prospectus? Who can file prepare and file it? What are the conditions? Section 31 of Indian Companies Act 2013

 

 

Section 31 Shelf Prospectus - Indian Companies Act 2013

 

As per Section 31 of Indian Companies Act 2013 a Company can issue shelf prospectus subject to fulfilling the conditions mentioned in the section. Provision in the Indian Companies Act 2013 regarding issue of shelf Prospectus is as under.

 

(1) Any class or classes of companies, as the Securities and Exchange Board may provide by regulations in this behalf, may file a shelf prospectus with the Registrar at the stage of the first offer of securities included therein which shall indicate a period not exceeding one year as the period of validity of such prospectus which shall commence from the date of opening of the first offer of securities under that prospectus, and in respect of a second or subsequent offer of such securities issued during the period of validity of that prospectus, no further prospectus is required.


(2) A company filing a shelf prospectus shall be required to file an information memorandum containing all material facts relating to new charges created, changes in the financial position of the company as have occurred between the first offer of securities or the previous offer of securities and the succeeding offer of securities and such other changes as may be prescribed, with the Registrar within the prescribed time, prior to the issue of a second or subsequent offer of securities under the shelf prospectus:


Provided that where a company or any other person has received 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.

 

 

Section 21 to 40 of Indian Companies Act 2013

How to authenticate documents, proceedings and contracts of a Company? Section 21 of Indian Companies Act 2013

How to execute bills of exchange etc? Section 22 of Indian Companies Act 2013

What are the methods to issue securities by Companies? Section 23 of Indian Companies Act 2013 - Public offer and Private Placement

What are the Powers of Securities and Exchange Board (S E B I) to regulate, issue and transfer of securities? Section 24 of Indian Companies Act 2013

Document containing offer of securities for sale to be deemed prospectus? Section 25 of Indian Companies Act 2013

What are the matters to be stated in Prospectus? Section 26 of Indian Companies Act 2013. Contents of Prospectus. What is the provision for punishment against violation of law regarding issue of Prospectus?

What is the effect of variation in terms of contract or objects in prospectus? Section 27 of Indian Companies Act 2013

Can members of a company offer shares for sale? Section 28 of Indian Companies Act 2013 - offer of sale of shares by certain members of the Company

Public offer of securities should be in dematerialized form. Section 29 of Indian Companies Act 2013

What are the methods to advertise Prospectus? What are the conditions? Section 30 of Indian Companies Act 2013

What is Shelf Prospectus? Who can file prepare and file it? What are the conditions? Section 31 of Indian Companies Act 2013

What is Red Herring Prospectus? Who can issue red herring prospectus? What are the terms? Section 32 of Indian Companies Act 2013

How to issue Application forms for Securities? What is the procedure? Section 33 of Indian Companies Act 2013

What is the criminal liability for mis statement in Prospectus? What is the punishment? Section 34 of Indian Companies Act 2013

What is the Civil liability for mis statement in the Prospectus? Who is punishable? Section 35 of Indian Companies Act 2013

What is the punishment for fraudulently inducing persons to invest money? Section 36 of Indian Companies Act 2013

How can the affected persons act against company for mis leading statements? Section 37 of Indian Companies Act 2013

What is the punishment for personation etc of securities? Section 38 of Indian Companies Act 2013

How to allot securities by Company? What the is process? Section 39 of Indian Companies Act 2013

How to dealt with Securities? Is it necessary to deal with Stock Exchanges? Section 40 of Indian Companies Act 2013. What is the punishment for violation?

 

 

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