law: Companies Act, 2013 
  28.
  
   Offer
  
  of sale of shares by certain members of company.
  1.      Where certain members
  
  of a company propose, in consultation with the Board of Directors to offer, in
  
  accordance with the provisions of any law for the time being in force, whole or
  
  part of their holding of shares to the public, they may do so in accordance
  
  with such procedure as may be prescribed.
  2.      Any document by which
  
  the offer of sale to the public is made shall, for all purposes, be deemed to
  
  be a prospectus issued by the company and all laws and rules made there under
  
  as to the contents of the prospectus and as to liability in respect of
  
  mis-statements in and omission from prospectus or otherwise relating to
  
  prospectus shall apply as if this is a prospectus issued by the company.
  3.      The members, whether
  
  individuals or bodies corporate or both, whose shares are proposed to be
  
  offered to the public, shall collectively authorise the company, whose shares
  
  are offered for sale to the public, to take all actions in respect of offer of
  
  sale for and on their behalf and they shall reimburse the company all expenses
  
  incurred by it on this matter.