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<h1>2018 Amendment Simplifies Prospectus Rules, Omits Detailed Financial and Legal Disclosures from Companies Act 2014.</h1> The Companies (Prospectus and Allotment of Securities) Rules, 2014, previously required prospectuses to include detailed reports and disclosures. These included the application of proceeds from shares or debentures, acquisition of businesses or properties, and related financial reports by chartered accountants. Other requirements involved disclosure of material contracts, related party transactions, auditor remarks, legal inquiries, and frauds. A fact sheet with essential details like company information, offer specifics, and credit ratings was also mandated. These provisions were omitted in 2018, removing the requirement for such comprehensive disclosures in prospectuses.