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A shelf prospectus filed with the ROC remains valid for:
AOne year from date of opening of first issue
BOne year from date of closing of first issue
COne year from date of registration
DNinety days from date delivered to ROC
Answer & Solution
Correct answer: A. One year from date of opening of first issue
1. Section 31(1) — shelf prospectus is valid for one year from the OPENING of the first offer of securities under that prospectus.
2. The validity is anchored to issue-opening date, not registration or closing.
3. Hence (C).
_Source: ICAI BoS CA Inter Paper 2 — Prospectus and Allotment_