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of <h1>Companies Act 1956: Prospectus Issuance Rules, Public Invitation Criteria, Liabilities for Misleading Info, and Registration Conditions</h1> The Companies Act, 1956, outlines the requirements for issuing a prospectus, which includes any document inviting the public to subscribe for shares or debentures. Offers to fifty or more people are considered public invitations. A prospectus must be dated and accompanied by an underwriting agreement when filed with the Registrar. Public companies must issue a prospectus or file a statement in lieu of it. The Registrar can refuse registration if certain conditions are not met, such as lack of consent from key parties or untrue statements. Civil and criminal liabilities apply for misleading information, with potential fines and imprisonment. Shelf prospectuses are valid for one year, and information memorandums assess demand before prospectus filing.
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