A prospectus is valid within _____ days after the copy

Solution

As per Section 26(8) of the Companies Act, 2013 : "No prospectus shall be valid if it is issued more than ninety days after the date on which a copy thereof is delivered to the Registrar under sub-section (4)." ​ Explanation: Section 26(4)  requires that a company must deliver a copy of the prospectus to the Registrar of Companies (RoC)  on or before the date of its publication.​ Section 26(8)  explicitly provides that the prospectus remains valid for a period of 90 days  from the date of delivery to the RoC. If the prospectus is not issued within this 90-day period, it becomes invalid  and cannot be used for inviting subscriptions.​ Practical Implication:

• A prospectus must be issued/published within 90 days  after filing it with the RoC
• If the 90-day period expires, the company must file a fresh prospectus  with the RoC
• This provision ensures that the information contained in the prospectus remains current and relevant  for potential investors