https://www.taxtmi.com/acts?id=12333 Every prospectus issued by or on behalf of a company or its promoters must state the matters in Part I of Schedule II and set out the reports in Part II, subject to Part III. Application forms for shares or debentures must be accompanied by a memorandum containing salient features of the prospectus, with specific exceptions for underwriting invitations and non-public offers; contravention attracts a statutory fine. Directors and responsible persons may avoid liability by proving lack of knowledge, an honest mistake of fact, or that non-disclosure was immaterial or reasonably excusable, with a heightened standard for omissions relating to clause 18 of Schedule II. en-us Fri, 06 May 2011 13:20:21 +0530 Sat, 07 May 2011 10:08:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12333 Every prospectus issued by or on behalf of a company or its promoters must state the matters in Part I of Schedule II and set out the reports in Part II, subject to Part III. Application forms for shares or debentures must be accompanied by a memorandum containing salient features of the prospectus, with specific exceptions for underwriting invitations and non-public offers; contravention attracts a statutory fine. Directors and responsible persons may avoid liability by proving lack of knowledge, an honest mistake of fact, or that non-disclosure was immaterial or reasonably excusable, with a heightened standard for omissions relating to clause 18 of Schedule II. Act-Rules Companies Law Fri, 06 May 2011 13:20:21 +0530 https://www.taxtmi.com/acts?id=12333