Advertisement requirements for deposit solicitation must be Board-authorised, include prescribed disclosures, and be filed with the Registrar. Rule 4 requires that any advertisement inviting deposits be Board authorised, published in a leading English and a vernacular newspaper in the State of the company's registered office, and contain prescribed disclosures including company identity, business and management particulars, directors' details, profits and dividends for the preceding three years, a summarised financial position from the two latest audited balance sheets, deposit raising limits and aggregate deposits held, statements on overdue deposits and small depositors where applicable, and statutory declarations of compliance; a signed copy must be filed with the Registrar before issue.
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Provisions expressly mentioned in the judgment/order text.
Advertisement requirements for deposit solicitation must be Board-authorised, include prescribed disclosures, and be filed with the Registrar.
Rule 4 requires that any advertisement inviting deposits be Board authorised, published in a leading English and a vernacular newspaper in the State of the company's registered office, and contain prescribed disclosures including company identity, business and management particulars, directors' details, profits and dividends for the preceding three years, a summarised financial position from the two latest audited balance sheets, deposit raising limits and aggregate deposits held, statements on overdue deposits and small depositors where applicable, and statutory declarations of compliance; a signed copy must be filed with the Registrar before issue.
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