COMPANY LAW

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Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2010 Hello experts pls tell me

the meaning of Abridged prospectus ???

and the difference b/w information memorandum and Red herring prospectus ???

thanks in advance....

Ankur Garg

Ankur Garg (Expert)
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03 September 2010 Meanings of 'prospectus' and 'abridged prospectus'

The term 'prospectus' under section 2(36) means any document described or issued as a prospectus and includes any notice, circular, advertisement or other document inviting offers from the public or inviting offers from the public for the subscription or purchase of any shares in, or debentures securities of a body corporate.

The term 'abridged prospectus' under section 2(1) means a memorandum containing such salient features of a prospectus as may be prescribed. Salient features here means main and imp features of main prospectus.

Only a public company has power and privilege to issue prospectus to public for subscription of shares in or debentures of the company. The prospectus issued by a public company shall contain matters specified in Part I of Schedule II to the Companies Act, 1956. If a public company does not issue a prospectus with reference to its formation then it has to file a statement in lieu of prospectus (SLP) with the concerned Registrar of Companies as desired by Section-70.

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2010 Thanks Ankur sir and what is this information memeorandum for

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