write a note on prospectus.( 4 marks answer)
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A prospectus has been defined in the Act as “any document described or issued as a prospectus and includes any notice, circular, advertisement or other document inviting deposits from the public or inviting offers from the public from the subscription or purchase of any share in or debentures of a body corporate”.
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it is an invitation to a public to apply for shares or debentures of the company or to make deposits in the company. it is issued by a public company which is seeking to raise the required funds from the public by means of issue of shares and debentures. it is not necessary for every company to file a prospectus.
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