TaxTMI 
TaxTMI 
Prospectus or statement in lieu of prospectus to be filed by private company on ceasing to be private company.
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....articles in such a manner that they no longer include the provisions which, under clause (iii) of sub-section (1) of section 3, are required to be included in the articles of a company in order to constitute it a private company, the company, (a) shall, as on the date of the alteration, cease to be a private company; and (b) shall, within a period of [2][thirty] days after the said date, file ....
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.... such report as is referred to in clause (a) or (b) have made therein, or have, without giving the reasons indicated therein, any such adjustments as are mentioned in clause 32 of Schedule II or clause 5 of Schedule IV, as the case may be, the prospectus or statement in lieu of prospectus filed as aforesaid, shall have endorsed thereon or attached thereto, a written statement signed by those perso....
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....ng of the prospectus or statement believe, that the statement was true. (5) For the purposes of this section___ (a) a statement included in a prospectus or a statement in lieu of prospectus shall be deemed to be untrue if it is misleading in the form and context in which it is included; and (b) where the omission from a prospectus or a statement in lieu of prospectus of any matter is calculat....