law: Companies Act, 2013 
  31.
  
    Shelf
  
  prospectus.
  1.      Any class or classes
  
  of companies, as the Securities and Exchange Board may provide by regulations
  
  in this behalf, may file a shelf prospectus with the Registrar at the stage of
  
  the first offer of securities included therein which shall indicate a period
  
  not exceeding one year as the period of validity of such prospectus which shall
  
  commence from the date of opening of the first offer of securities under that
  
  prospectus, and in respect of a second or subsequent offer of such securities
  
  issued during the period of validity of that prospectus, no further prospectus
  
  is required.
  2.      A company filing a
  
  shelf prospectus shall be required to file an information memorandum containing
  
  all material facts relating to new charges created, changes in the financial
  
  position of the company as have occurred between the first offer of securities
  
  or the previous offer of securities and the succeeding offer of securities and
  
  such other changes as may be prescribed, with the Registrar within the
  
  prescribed time, prior to the issue of a second or subsequent offer of
  
  securities under the shelf prospectus:
  Provided
  
  that where a company or any other person has received applications for the
  
  allotment of securities along with advance payments of subscription before the
  
  making of any such change, the company or other person shall intimate the
  
  changes to such applicants and if they express a desire to withdraw their
  
  application, the company or other person shall refund all the monies received
  
  as subscription within fifteen days thereof.
  1.     
  2.     
  3.      Where an information
  
  memorandum is filed, every time an offer of securities is made under
  
  sub-section (2 ), such memorandum together with the shelf prospectus
  
  shall be deemed to be a prospectus.
  Explanation.— For the purposes of
  
  this section, the expression "shelf prospectus" means a prospectus in
  
  respect of which the securities or class of securities included therein are
  
  issued for subscription in one or more issues over a certain period without the
  
  issue of a further prospectus.