Allotment and CCI Guidelines
This query is : Resolved
Guest
Guest
(Querist)
20 April 2009
If Shares have been issued to NRI at a price lower than the NAV as per CCI Guidelines then what shall b done?
CS Vivek Hegde
(Expert)
21 April 2009
It is an irregular allotment since the provisions of FEMA are not complied with.
So in a Board Meeting u should annul the earlier allotment and make fresh allotmenmt at a fair value arrived at by Chartered Accountant.
If u want more info mail me @ vivekhegde1984@gmail.com
rgds
Vivek Hegde
So in a Board Meeting u should annul the earlier allotment and make fresh allotmenmt at a fair value arrived at by Chartered Accountant.
If u want more info mail me @ vivekhegde1984@gmail.com
rgds
Vivek Hegde
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