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of <h1>Section 603 of Companies Act, 1956: Prospectus Must Include Key Details for Foreign Companies Offering Shares/Debentures in India</h1> Section 603 of the Companies Act, 1956 mandates that any prospectus offering shares or debentures of a company incorporated outside India must be dated and contain specific details. These include the company's constitution, incorporation details, and business presence in India. Non-compliance with these requirements renders any conditions for waiving compliance void. Issuing application forms for shares or debentures without a compliant prospectus is prohibited, except for bona fide underwriting agreements. Directors may avoid liability for non-compliance if they prove lack of knowledge or honest mistakes. Certain exemptions apply, such as for existing members or uniform securities.
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