Statement in lieu of prospectus

In lieu means instead of / in place of
The Companies Act does not define the words statement in lieu of prospectus. However this is document prepared and issued by public companies in certain circumstances either in place of or in addition to an ordinary prospectus inviting for the public to subscribe for the shares or debentures of the company.
Its contents are prescribed by the provisions of the Companies Act.

Contents of a statement in lieu of prospectus
1. Nominal share capital
2. Any preference share capital (redeemable)
3. Names and particulars of directors
4. Voting rights of different share classes
5. Debentures issued
6. Names and particulars of vendors/sellers of property
7. Date and particulars of material contracts
8. The accountant’s report on profit & losses and assets.

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