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of <h1>Section 60A of Companies Act, 1956: Shelf Prospectuses for Public Financial Institutions and Banks Explained</h1> Section 60A of the Companies Act, 1956 addresses the use of shelf prospectuses by public financial institutions, public sector banks, or scheduled banks focused on financing. A shelf prospectus allows a company to issue securities without filing a new prospectus for each offer within its validity period. The company must file an information memorandum detailing any material changes since the last offer before subsequent offers. This memorandum, issued with the initial prospectus, is valid for one year. Financing refers to loans or capital subscriptions in private industrial enterprises engaged in infrastructural financing, as notified by the Central Government.
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