Section 25 Companies Act 2013 deals with documents containing offer of securities for sale — 'deemed prospectus'. A deemed prospectus arises when:

1. Section 25 Companies Act 2013: any DOCUMENT by which an OFFER FOR SALE to the public of securities is made shall be DEEMED to be a prospectus issued by the company, for all purposes of liability and otherwise. 2. Section 25(2): if (a) an offer of securities to the public for sale is made within six months after the allotment, OR (b) at the date when the offer is made, the whole consideration to be received by the company has not been received, then it is presumed that the allotment was with a view to the securities being offered for sale to the public. 3. The provision (originating in Section 64 Companies Act 1956) aims to prevent the avoidance of prospectus liability through intermediaries. 4. Hence option A is correct. _Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 25_