Prospectus advertisement standards: limited essential disclosures prescribed to prompt investors to obtain the full prospectus, with liability risk. The Government prescribed a concise proforma for newspaper announcements that restricts press disclosure to essential facts to induce investors to obtain the full prospectus; companies may follow the proforma voluntarily but will incur statutory penalties and compensation liability if announcements contravene applicable law. The proforma specifies items to disclose: company name and registered office, activities, industry location, board and management, capital details and proposed issue terms, subscription opening and closing dates, and sources for application forms and prospectuses.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prospectus advertisement standards: limited essential disclosures prescribed to prompt investors to obtain the full prospectus, with liability risk.
The Government prescribed a concise proforma for newspaper announcements that restricts press disclosure to essential facts to induce investors to obtain the full prospectus; companies may follow the proforma voluntarily but will incur statutory penalties and compensation liability if announcements contravene applicable law. The proforma specifies items to disclose: company name and registered office, activities, industry location, board and management, capital details and proposed issue terms, subscription opening and closing dates, and sources for application forms and prospectuses.
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