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What is the purpose of a 'Statement in Lieu of Prospectus' according to Section 70 of the Companies Act?a)To replace the need for a prospectus in case of a public company.b)To provide detailed financial information to potential shareholders.c)To outline the company's marketing strategy for its shares.d)To explain the legal framework for issuing debentures.Correct answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the purpose of a 'Statement in Lieu of Prospectus' according to Section 70 of the Companies Act?a)To replace the need for a prospectus in case of a public company.b)To provide detailed financial information to potential shareholders.c)To outline the company's marketing strategy for its shares.d)To explain the legal framework for issuing debentures.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the purpose of a 'Statement in Lieu of Prospectus' according to Section 70 of the Companies Act?a)To replace the need for a prospectus in case of a public company.b)To provide detailed financial information to potential shareholders.c)To outline the company's marketing strategy for its shares.d)To explain the legal framework for issuing debentures.Correct answer is option 'A'. Can you explain this answer?.

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