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Proposed Amendments in COMPANIES (PROSPECTUS AND ALLOTMENT OF SECURITIES) RULES, 2014 (PAS RULES)

News and Press Release - Dated:- 2-2-2016 - Rule 3(6): Disclosures of Sources of Promoters Contribution 3.1 Section 26(1)(a)(xiv) provides every prospectus to state disclosures in such manner as may be prescribed about sources of promoter s contribut .....

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ompanies having a long period of existence would be very difficult and, therefore, this provision should be done away with. The Committee noted that as it has recommended for modification of Section 26 to allow prescription powers to SEBI (refer para .....

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inimum amount has not been subscribed, the application money to be refunded shall be credited only to the bank account from which the subscription was remitted. The Committee did not agree with the contention that the company is dependent on the depo .....

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