What is Provisions as to experts consent and allotment What is Registration of prospectus What is Offer of Indian Depository Receipts Section 388, 389 and 390 of Indian Companies Act 2013

Provisions as to experts consent and allotment, Registration of prospectus and Offer of Indian Depository Receipts are defined under Section 388, 389  and 390 of Indian Companies Act 2013. Provisions under these Sections are:

Section 388 of Indian Companies Act 2013 "Provisions as to experts consent and allotment"

(1) No person shall issue, circulate or distribute in India any prospectus offering for subscription in securities of a company incorporated or to be incorporated outside India, whether the company has or has not been established, or when formed will or will not establish, a place of business in India, -

(a) if, where the prospectus includes a statement purporting to be made by an expert, he has not given, or has before delivery of the prospectus for registration withdrawn, his written consent to the issue of the prospectus with the statement included in the form and context in which it is included, or there does not appear in the prospectus a statement that he has given and has not withdrawn his consent as aforesaid; or

(b) if the prospectus does not have the effect, where an application is made in pursuance thereof, of rendering all persons concerned bound by all the provisions of sections 33 and 40, so far as applicable.

(2) For the purposes of this section, a statement shall be deemed to be included in a prospectus, if it is contained in any report or memorandum appearing on the face thereof or by reference incorporated therein or issued therewith.

Section 389 of Indian Companies Act 2013 "Registration of prospectus"

No person shall issue, circulate or distribute in India any prospectus offering for subscription in securities of a company incorporated or to be incorporated outside India, whether the company has or has not established, or when formed will or will not establish, a place of business in India, unless before the issue, circulation or distribution of the prospectus in India, a copy thereof certified by the chairperson of the company and two other directors of the company as having been approved by resolution of the managing body has been delivered for registration to the Registrar and the prospectus states on the face of it that a copy has been so delivered, and there is endorsed on or attached to the copy, any consent to the issue of the prospectus required by section 388 and such documents as may be prescribed.

Section 390 of Indian Companies Act 2013 "Offer of Indian Depository Receipts"

Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules applicable for -

(a) the offer of Indian Depository Receipts;

(b) the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts;

(c) the manner in which the Indian Depository Receipts shall be dealt with in a depository mode and by custodian and underwriters; and

(d) the manner of sale, transfer or transmission of Indian Depository Receipts, by a company incorporated or to be incorporated outside India, whether the company has or has not established, or will or will not establish, any place of business in India.

 

What law related to Accounts of foreign company Display of name, etc., of foreign company. Section 381 and 382 of Indian Companies Act 2013

What is Service on foreign company What is Debentures, annual return, registration of charges, books of account and their inspection. Section 383 and 384 of Indian Companies Act 2013

What is Fee for registration of documents What is Interpretation What is Dating of prospectus and particulars to be contained therein. Section 385, 386 and 387 of Indian Companies Act 2013

What is Provisions as to experts consent and allotment What is Registration of prospectus What is Offer of Indian Depository Receipts Section 388, 389 and 390 of Indian Companies Act 2013

What is Application of sections 34 to 36 and Chapter XX What is Punishment for contravention Section 391 and 392 of Indian Companies Act 2013

What is Company's failure to comply with provisions of this Chapter not to affect validity of contracts, etc What is Annual reports on Government companies Section 393 and 394 of Indian Companies Act 2013

What is Annual reports where one or more State Governments are members of companies Registration offices. Section 395 and 396 of Indian Companies Act 2013

What is Admissibility of certain documents as evidence What are the Provisions relating to filing of applications, documents, inspection, etc., in electronic form Section 397 and 398 of Indian Companies Act 2013

What is Inspection, production and evidence of documents kept by Registrar What is Electronic form to be exclusive, alternative or in addition to physical form Section 399 and 400 of Indian Companies Act 2013

 

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