For issue of shares after 01.04.2014 under private placement, a registered valuer's certificate is required for valuation of shares. Now my query is:
1. Who is notified as a registered valuer? In case i am issuing shares today, from whom can i duly receive the certificate?
2. Is this certificate required even if shares are issued at par?
Yes, this certificate is mandatory even if the issue is at par. Pending notification of Registered Valuer, the certificate can be obtained from any SEBI registered merchant banker or from a CA in practice having minimum 10 years of experience.
Can the CA be the statutory auditor of the company or does he have to be an independent person?
Also can a private limited company make only 4 such offers during the year (one in each quarter) with a gap of 60 days?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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