Unit III · Law of Investments and Securities

Prospectus, deemed prospectus and shelf prospectus

Study aid only. Confirm statute numbers with the current bare Act and the official OU LL.B. (3-YDC) 2024–25 syllabus PDF.

Statute sections

Act / instrument	Section	Name
Companies Act, 2013	2(70)	Prospectus
Companies Act, 2013	25–27	Deemed prospectus, shelf prospectus and red-herring prospectus
Companies Act, 2013	26	Matters to be stated in prospectus
Companies Act, 2013	27	Variation in terms of contract or objects

(2013) 1 SCC 1 · Supreme Court of India

A so-called private placement that in substance invites the public is a prospectus-based public issue.

(2010) 3 SCC 765 · Supreme Court of India

Misstatements and market deceit in the public-issue process fall within SEBI's enforcement net.