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of <h1>Section 25: Public Securities Offerings Treated as Prospectus; Requires Compliance with Regulations and Director Signatures</h1> Section 25 of the Companies Act, 2013, states that any document offering securities for sale to the public is considered a prospectus issued by the company. This applies when a company allots or agrees to allot securities intending them to be sold publicly. The document must comply with prospectus regulations, including liability for misstatements. Evidence of intent to sell publicly includes offering securities within six months of allotment or incomplete receipt of consideration. Additional disclosures are required, such as the net consideration and contract details. Offers must be signed by two directors or a majority of partners if made by a company or firm.
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