case of an underwriting agreement [Sec. 56 (3)

where the shares or debentures are not offered to the public [Sec.56 (3) (b)],

(iii) where the company has issued right shares to the existing shareholders of the. company with or without the right of renunciation [Sec. 56 (5) (a)].(iv) in

respect of share or debentures which are similar to thosepreviously issued and dealt in on a recognised stock exchange.

The Companies (Amendment) Act 2000 has inserted a new Section 60A introducing a new concept of ‘Shelf Prospectus’. ‘Shelf prospectus’ mcans a

prospectus issued by a financial institution or bank or one or more issue or issues of the securities or class of securities specified in the prospectus. The

main advantage ofthe issue of such type of prospectus is that the company has not to issue prospectus at the time of every issue of shares and

debentures during the period of its validity. Such’ shelf prospectus’ is required to be filed with the Registrar of Companies. At subsequent stages, only

‘information memorandum’ is required to be filed.