Definition of terms for rules 11 and 12

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... or is a valuer then - (I) he has professional experience of not less than ten years; and (II) his annual receipt in the year preceding the year in which valuation is undertaken, from the exercise of profession, exceeds fifty lakh rupees; (B) if he is a member or partner in any entity engaged in rendering accountancy or valuation services then, the annual receipt of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s drawn up on the specified date which has been audited under the laws relating to companies in force; and (B) in any other case, it means the balance-sheet of the company or the entity (including the notes annexed thereto and forming part of the accounts) as drawn up on the specified date and submitted to the relevant authority outside India under the laws in force of the country in whic....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rest and the general reserves and surplus and security premium related to the paid-up capital; (d) "connected person" shall have the meaning assigned to it in section 184(5); (e) "foreign company or entity" means a company or entity registered or incorporated outside India; (f) "observable price" in respect of a share quoted on a stock exchange shall be the higher of the following:- ....