Prospectus Advertisement in newspapers - Companies Law - No. 5(5)‑CL‑VI/68,

Circular : Letter No. 5(5) ‑ CL ‑ VI/68, dated 23 ‑ 3 ‑ 1968. Subject:- Prospectus Advertisement in newspapers Attention is invited to the erstwhile Department of Company Law Administration s Circular Letter No. 5(13)‑CL‑VI/62, dated 21‑5‑1962 [printed as Clarification 1] suggesting a proforma in which announcement regarding the proposed issue of capital was to be made in the press. The Bombay Shareholders Association and the Bombay Chamber of Commerce Industry have suggested to this Department that the companies wishing to make a public issue of shares may be permitted to include in the eight‑point proforma of announcement the terms of payment as they are vital aspects concerning a public issue of shares. After careful consideration of the suggestion made by the aforesaid organisations, the Central Government feels that there is no bar to the terms of payment being included in the announcement made in the press provided it does not offend the provisions of section 56.