Issue of application forms for securities

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..... the purchase of any of the securities of a company shall be issued unless such form is accompanied by an abridged prospectus: Provided that nothing in this sub-section shall apply if it is shown that .....

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..... If a company makes any default in complying with the provisions of this section, it shall be liable to a penalty of fifty thousand rupees for each default. - - statute, statutory provisions legislat .....

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