https://www.taxtmi.com/caselaws?id=98008 The appeal was dismissed, and costs were awarded to the respondent. The court held that the company fell under sub-section (1) of section 149 of the Companies Act, 1956, as it had issued a prospectus inviting the public to subscribe for its shares. Compliance with section 70 regarding the allotment of shares did not alter the company's classification. The judgment emphasized that issuing prospectuses or engaging in preliminary activities does not constitute commencing business under section 149. The court did not address the issue of the company's entitlement to a certificate under sub-section (3) of section 149 if it fell under sub-section (2). en-us Mon, 01 Apr 1963 00:00:00 +0530 Wed, 18 Jan 2012 17:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98008 The appeal was dismissed, and costs were awarded to the respondent. The court held that the company fell under sub-section (1) of section 149 of the Companies Act, 1956, as it had issued a prospectus inviting the public to subscribe for its shares. Compliance with section 70 regarding the allotment of shares did not alter the company's classification. The judgment emphasized that issuing prospectuses or engaging in preliminary activities does not constitute commencing business under section 149. The court did not address the issue of the company's entitlement to a certificate under sub-section (3) of section 149 if it fell under sub-section (2). Case-Laws Companies Law Mon, 01 Apr 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98008