Share subscripttion amount on opc incorporation

As per Sec 247, ' Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other assets (herein referred to as the assets) or net worth of a company or its liabilities'

1. But, the given asset is of director and the same would be used as capital contribution. Pl. guide whether the same section is applicable.

2. If the given section is applicable then do I need to submit valution report from registered valuer to MCA .

Thanks.

Thanks for the reply.

Do I need to execute any contract & inform MCA about it (Section 193) after obtaining valuation report from registered valuer?