Statement in Lieu of Prospectus

If a company does not want to issue a prospectus to the public for subscription of the shares, this statement is required to be issued to the public for necessary information. It must be signed by every person named in it as director or by his agent authorized in writing: The nature of the information of this document is more or less similar to that given in the prospectus. A copy of this statement must be filed with registrar within prescribed time. This provision does not apply to private company.