https://www.taxtmi.com/acts?id=12355 A company with share capital that has not issued (or issued but not proceeded to allot) a prospectus must not allot shares or debentures unless a statement in lieu of prospectus, in the form and particulars of Schedule III and signed by each director or proposed director (or authorised agent), is delivered to the Registrar at least three days before the first allotment. Private companies are excluded. Contravention attracts fines for the company and wilful directors; filing an untrue or misleading statement exposes the authoriser to criminal liability unless immateriality or reasonable belief in truth is proved. en-us Fri, 06 May 2011 17:27:32 +0530 Sat, 07 May 2011 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12355 A company with share capital that has not issued (or issued but not proceeded to allot) a prospectus must not allot shares or debentures unless a statement in lieu of prospectus, in the form and particulars of Schedule III and signed by each director or proposed director (or authorised agent), is delivered to the Registrar at least three days before the first allotment. Private companies are excluded. Contravention attracts fines for the company and wilful directors; filing an untrue or misleading statement exposes the authoriser to criminal liability unless immateriality or reasonable belief in truth is proved. Act-Rules Companies Law Fri, 06 May 2011 17:27:32 +0530 https://www.taxtmi.com/acts?id=12355