Variation in terms of contracts referred to in the prospectus or objects for which prospectus was issued
(1)
where the company has raised money from public through prospectus and has any unutilized amount out of the money so raised, it shall not vary the terms of contracts referred to in the prospectus or objects for which the prospectus was issued except by passing a special resolution through postal ballot and the notice of the proposed special resolution shall contain the following particulars, namely:—
(a)
the original purpose or object of the Issue;
(b)
the total money raised;
(c)
the money utilised for the objects of the company stated in the prospectus;
(d)
the extent of achievement of proposed objects(that is fifty percent, sixty percent, etc);
(e)
the unutilised amount out of the money so raised through prospectus,
(f)
the particulars of the proposed variation in the terms of contracts referred to in the prospectus or objects for which prospectus was issued;
(g)
the reason and justification for seeking variation;