what is statement in lieu of prospectus?
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It is also required to be file as per Schedule IV in case of conversion of Pvt. Commpany into public Company
A statement in lieu of prospectus is filed by a Company before a Registrar, if it wants to allot shares without taking money
from the public i.e it does not invite public to subscribe for shares. This is necessary before the company is able to allot shares to any person (typically closely held companies, though listed as public companies).
A statement in lieu of prospectus.According to the companies' ordinance if a public company is not issuing a prospectus on its formation, it then must file a statement in lieu of prospectus with the registrar of the companies
in other words
A statement in lieu of prospectus is filed by a Company before a Registrar, if it wants to allot shares without taking money
from the public i.e it does not invite public to subscribe for shares. This is necessary before the company is able to allot shares to any person
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