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Reviewed by Jan 05, 2022| Updated on
Section 2(1) of the Indian Companies Act, 201 defines an abridged prospectus as a memorandum that has all the salient features of the prospectus as specified by the SEBI.
Furthermore, a prospectus can be defined as a document that the company uses to communicate and invite the public to invest into it or purchase their securities. It contains exhaustive information about the financial position of the company, its directors and their details, the names of the signatories to the memorandum, the objects of public offer, additional charges created, changes in the finance etc.