33. Issue of application forms for securities.

— (1) No form of application for the purchase of any of

the securities of a company shall be issued unless such form is accompanied by an abridged
prospectus:
Provided that nothing in this sub-section shall apply if it is shown that the form of application was
issued—
(a) in connection with a bona fide invitation to a person to enter into an underwriting agreement with
respect to such securities; or
(b) in relation to securities which were not offered to the public.

Underwriting house/ issuing house – these companies are created for a specific purpose.

Eg – Awasthi house want to release IPO but don’t want to go in the headache of abridged
prospectus, so when Awasthi house want to release securities through underwriting house
they enter intro underwriting agreement with them and they don’t require abridged
prospectus.

Shelf Prospectus. Section 31

It can be issued only by the companies recognised/ specified companies. Example a company
requested SEBI to issue shelf prospectus for one year so in that one year they can issue
securities as many times as possible and they will not be required to provide any prospectus
in between.
2 conditions
 1. Awasthi companies given the securities to Issuing house and it provided it to the
public after 6 months.
2. Awasthi companies given the securities to issuing house and it did not pay the money
abhi they said that once they sell all the securities to the public, they will give the
money.

Meaning of Deemed prostpectus

https://youtu.be/dSH2faBZU-Q - Watch this youtube video for this lol.!