Equity Share Valuation Issues: Companies Act Section 59(4) Allows Fresh Valuation to Correct SEBI Act Compliance Discrepancies.

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....Valuation of the fair price per equity share of the Respondent Company - low valuation of shares in the exit offer - Section 247 or other provisions of the Companies Act or Rules do not specifically provide for conducting valuation if it is required under the provisions of the SEBI Act. It therefore follows that if the Register contains entries in respect of valuation done in, contravention of the SEBI Act, then in order to rectify those entries fresh valuation should be permissible under the Companies Act since Section 59(4) of the Companies Act provides for such rectification. - Tri....