Valuation Report for Private Placement - Treat Urgent

[BalaJi Srivastava]

Dear all,

I am not able to trace the purpose of Valuation Certificate in Law for allotment of Shares as per Section 42. Request to kindly confirm the extracts of law mandating for Valuation report in private placement process of Shares Allotment.

Many thanks

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[Prabhakar K S]

Dear Sir,

Pl. check  Section 62 (c).

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[CS Simranjeet Singh]

hello bhai pls chek rule 12(7) of companies (prosp and allot of securities) rule, 2014.. given there..

 

 

Regards,

Simranjeet Singh

Associate Company Secretary

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[BalaJi Srivastava]

Many thanks for the Information. Everywhere it is asking for Preferential Allotment.

What about the private placement us 42. Please advice. I dont think that would be supported by Sec 62, if yes any relevant notification??

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[Prashant Damani]

The Valuation Report finds its way from the Income Tax act, which requires shares to be allotted at their fair market value. Valuation certificate, in its turn, details the fair market value of the shares to be allotted. IT department sees the difference between the allotment price and the fair market value as the income of the company issuing such shares (obviously at a lower price) and also this is unjustified with respect to the existing shareholders of the Company.

Regards,

PRASHANT DAMANI

On Wed, Jul 23, 2014 at 12:11 PM, CS Simranjeet Singh <beingcompa...@gmail.com> wrote:

[Manpreet Kaur]

Balaji 

I am having all docs wil mail u within half an hr

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Thanks & Regards
Manpreet Kaur 
CS , M.Com

[BalaJi Srivastava]

I am asking for justification of valuation report for the purpose of shares allotment as per sec 42 of CA 13??

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[BalaJi Srivastava]

ny responses

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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The contents of this e-mail are confidential to the ordinary user of the e-mail address to which it was addressed and may also be privileged. If you are not the addressee of this e-mail you may not copy, forward, disclose or otherwise use it or any part of it in any form whatsoever. If you have received this e-mail in error please e-mail the sender by replying to this message.

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[Anuj Tulsyan]

Valuation report is required for further issue of share u/s 62(1)(c) when shares to be issued to new  share holder. Further, Clause 3 of Rule 13 (Inserted by Notification-G.S.R 413(E) Dated 18th June, 2014) requires that The price of shares or other securities to be issued on preferential basis shall not be less than the price determined on the basis of valuation report of a registered valuer. Certainly, spirit of this condition is that, new share holder should not get undue benefit, if company offer them shares below its book value. 

Again, If a company want to issue share to existing shareholder, it can go for right issue. Where no valuation report is required.

Regards,

CA. Anuj Tulsyan

[CS Ankit Misra]

Valuation report in case of private placement needs to be attach alongwith Form PAS -3 only in cases falling under rule 12(3) & (4) of Companies (Prospoctus & Allotment) Rules, 2014. 

This is inserted to know the value of consideration other than cash.

regards,

ANKIT MISRA

COMPANY SECRETARY

REGENCY HOSPITAL LTD.

KANPUR

8009968692

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[SUDHIER KUMAR GUPTHA]

Valuation certificate is not mandatory for all Sec.42 compliance, it depends on case to case.

On Wed, Jul 23, 2014 at 12:08 PM, Prabhakar K S <prabhak...@gmail.com> wrote:

[SUDHIER KUMAR GUPTHA]

Boss shares are allotted in tune with Sec.62, only for the sake of  receipt of money into bank account and for issuing the letter of offer sec.42 is relevant.

Pls go through rules under Sec.62, it has been clearly stated for  shares and other securities formalities are required.