Valuation requirement mandates registered valuer report or interim valuers; preferential issue pricing must not be below that valuation. Amendments confirm differential-rights equity shares issued under the 1956 Act remain governed by prior provisions; until registered valuers are appointed, valuation reports for preferential issues may be made by an independent merchant banker registered with the securities market regulator or by an independent Chartered Accountant with ten years' practice, and preferential issue price must not be less than the price determined by a registered valuer. Secured debentures may be issued for extended tenures by specified infrastructure and finance-related companies, and housing finance companies are included in related regulatory provisos.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation requirement mandates registered valuer report or interim valuers; preferential issue pricing must not be below that valuation.
Amendments confirm differential-rights equity shares issued under the 1956 Act remain governed by prior provisions; until registered valuers are appointed, valuation reports for preferential issues may be made by an independent merchant banker registered with the securities market regulator or by an independent Chartered Accountant with ten years' practice, and preferential issue price must not be less than the price determined by a registered valuer. Secured debentures may be issued for extended tenures by specified infrastructure and finance-related companies, and housing finance companies are included in related regulatory provisos.
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