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ISSUE OF APPLICATION FORMS AND ABRIDGE PROSPECTUS [SECTION 33]
Every application form for the purchase of the securities of a company shall not be issued unless the form is accompanied by an “Abridge Prospectus”.
There is no need for abridge prospectus in case of:
a) Underwriting Agreement; and
b) Private placement.
Any person may make a request for a copy of the prospectus before closing of the subscription list and the offer. The company shall furnish a copy to him.
Any default in under this section, company shall be liable to a penalty of fifty thousand rupees for each default.
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