A ‘Deemed Prospectus’ is a document which, though not expressly issued as a prospectus by a company, is treated as a prospectus under the Companies Act, 2013. The concept is intended to prevent companies from avoiding the legal requirements and liabilities associated with a prospectus by issuing securities through an intermediary or another person. It ensures that investors receive adequate and truthful information before subscribing to securities offered to the public. Section 25 of the Companies Act, 2013 deals with deemed prospectus. According to this provision, where a company allots or agrees to allot any securities with a view to all or any of those securities being offered for sale to the public, the document by which the offer for sale to the public is made is deemed to be a prospectus issued by the company. The provision applies even though the company itself may not have directly offered the securities to the public. The essential conditions for a document to be treated as a deemed prospectus are that the securities must have been allotted or agreed to be allotted by the company, and such allotment must be made with the intention that the securities, or any of them, will subsequently be offered for sale to the public. The public