PROBLEM
What are the review points for an offer document to be filed with the Securities Exchange Board of India (SEBI) and the Registrar of Companies (RoC)?
While we were an statutory auditors for a leading non-banking finance company, we were approached by the company for audit of the prospectus in connection with the filing of an offer document under the SEBI (ICDR) Regulations for a proposed issue of Secured Redeemable Non-convertible Debentures with SEBI and RoC.
OUTCOME
We successfully completed all the review procedures in relation to the financial information of the company for last five years and issued comfort letters to the merchant bankers for various tranches of proposed debenture issue. Basis our report, the company was able to file the prospectus with SEBI and ROC within timelines.
