Chapter III - The Companies (Prospectus and Allotment of Securities) Rules, 2014. - File Number 1/21/13-CL-V - Companies Law

Prospectus disclosure obligations require full issue, promoter and financial disclosures and strict refund and allotment procedures.

The rules mandate extensive prospectus disclosures including identities of issue participants, issue timetable, declarations on allotment/refunds and segregation of issue funds; full capital structure presentation and tabular history of past allotments; directors' and promoters' interests and sources of promoter contribution; objects, funding plan and project schedule; statutory, litigation and auditor qualifications disclosures; required auditors' and valuation reports for acquisitions; fact sheet summary; refund and allotment filing procedures (Form PAS 3); dematerialisation of promoter convertible holdings; shelf prospectus and private placement conditions with prescribed forms and limits.