A Ltd a company want to issue shares to public, however directors of company have opted for an alternate to avoid issuance of prospectus as they want persons of particular locality only to become member of their company and they decided to launch an advertisement in their district through local TV channels and local newspapers so as to attract people residing within district to come and invest. One of the investor objected to this action by company and contended that such step on part of company shall amount to prospectus. Decide maam is par konsa section applicable hoga thoda confusion hai
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A Ltd a company want to issue shares to public, however directors of company have
opted for an alternate to avoid issuance of prospectus as they want persons of particular
locality only to become member of their company and they decided to launch an
advertisement in their district through local TV channels and local newspapers so as to
attract people residing within district to come and invest. One of the investor objected to
this action by company and contended that such step on part of company shall amount to
prospectus. Decide maam is par konsa section applicable hoga thoda confusion hai
Is this complete share capital?
Mam sec 71 pending