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Sec 25(2) a & b offer for sale
Plz explain
Replies (4)
Which law?
Which law?
Section 25 of companies act ,2013 says about deemed prospectus ,ie.any allotment or agreement to allot securities of the company with a view that it shall be offered to public by that person need to comply chapter III of this act .
25(2)(a)&(b) clarifys about the "VIEW OF COMPANY",as per sub section (a) if company when enters into an agreement with the person ( Normally issue house) ,Include a covenant on its part that Alloted securities shall be offered to public or (b) At the time of making of offer WHOLE CONSIDERATION of securities not recieved by it .
25(2)(a)&(b) clarifys about the "VIEW OF COMPANY",as per sub section (a) if company when enters into an agreement with the person ( Normally issue house) ,Include a covenant on its part that Alloted securities shall be offered to public or (b) At the time of making of offer WHOLE CONSIDERATION of securities not recieved by it .
...& Doc through which such offer is made be called as Offer for sale/deemed prospectus ,For listed companies SEBI Regulations applies ,This section limited to compliance by company all the matters to be include in prospectus and liability of person in case of misstatements...
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