Section 497, The Companies Act, 2009

(1) Where a company allots or agrees to allot securitiesto any person with a view to their being offered for sale to the public, any document by which the offer for sale is made shall be deemed to be a prospectus. (2) For the purposes of this section, an allotment of, or an agreement to allot, securities shall, unless the contrary is proved, be deemed to have been made with a view to the securities being offered for sale to the public if it is shown that- (a) an offer of the securities for sale to the public was made within 6 months after the allotment or agreement to allot; or (b) at the date when the offer was made the whole consideration to be received by the company in respect of the securities had not been so received. Forms of prospectus