Chapter 3 (Prospectus) Leave a Comment / By / Prospectus In case of ‘offer of sale of shares by certain members of the company’, which of the following options is applicable: The provisions relating to minimum subscription are not applicable Entire minimum subscription amount is required to be received within three days of the opening date 25% of the minimum subscription amount is required to be received on the opening date and the remaining 75% within three days thereafter 50% of the minimum subscription is required to be received by the second day of the opening date and the remaining 50% within next three days after the second day None Criminal liability under section 34 for misstatement in prospectus may be avoided if - 1.the consent to become director was withdrawn 2.prospectus was issued without his knowledge 3.misstatement was immaterial 4.had reasonable ground to believe in truthfulness 5.it was based on statement of expert 3 & 4 1; 2; 3; 4 & 5 1; 2 & 5 3; 4 & 5 None Which of the following statement is contrary with the provisions of the Companies Act; 2013? a private company can make a private placement of its securities company has to pass a special resolution for private placement Minimum offer per person should have Market Value of 20,000 a public company can make a private placement of its securities None The time limit within which a copy of the contract for the payment of underwriting commission is required to be delivered to the Registrar is: Three days before the delivery of the prospectus for registration At the time of delivery of the prospectus for registration Three days after the delivery of the prospectus for registration Five days after the delivery of the prospectus for registration None Time's up
