Prospectus ‑ Advertisement in newspapers - Suggested proforma

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..... number dated 6‑2‑1962 [printed as Clarification 2] on the above subject. The matter has been reconsidered by the Government in detail in the light of the suggestions made by the Chambers and Stock Exchanges in reply to this Department s circular under reference. It would appear that some of these bodies have not fully appreciated the object underlying the proposal of this Department to .....

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..... Department has been advised that the announcement of the issue of capital being published by companies at present ‑ containing as they do copious extracts from the relevant prospectuses filed with the Registrar of Companies are not in conformity with law, it is regretted, it is not possible to agree to the suggestions of some Chambers that further information should be disclosed than that c .....

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..... an announcement offends in any way the provisions of section 56, the directors and other persons concerned would render themselves liable to the penalties under the law and also to the payment of compensation to every person who subscribes for any shares or debentures of the company on the faith of the announcement. ANNEXURE : PROFORMA OF ANNOUNCEMENT REGARDING THE PROPOSED ISSUE OF CAPI .....

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