Regulation 122 - Disclosures in the draft offer document and the offer document - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

PART VI: DISCLOSURES IN AND FILING OF OFFER DOCUMENTS Disclosures in the draft offer document and the offer document 122. (1) The draft offer document and the offer document shall contain all material disclosures which are true and adequate to enable the applicants to take an informed investment decision. (2) Without prejudice to the generality of sub-regulation (1), the red-herring prospectus, shelf prospectus and prospectus shall contain: (i) disclosures specified in the Companies Act, 2013 ; and (ii) disclosures specified in Part A of Schedule VI , subject to the provisions of Parts C and D thereof. (3) The lead manager(s) shall exercise due diligence and satisfy themselves about all aspects of the issue including the veracity and adequacy of disclosures made in the draft offer document and the offer document. (4) The lead manager(s) shall call upon the issuer, its promoters and its directors or in case of an offer for sale, the selling shareholders, to fulfil their obligations as disclosed by them in the draft offer document and the offer document and as required in terms of these Regulations. (5) The lead manager(s) shall ensure that the information contained in the offer document and the particulars as per audited financial statements in the offer document are not more than six months old from the issue opening date.