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Allotment and CCI Guidelines

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Guest (Querist)
20 April 2009 If Shares have been issued to NRI at a price lower than the NAV as per CCI Guidelines then what shall b done?
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CS Vivek Hegde

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CS Vivek Hegde (Expert)
21 April 2009 It is an irregular allotment since the provisions of FEMA are not complied with.

So in a Board Meeting u should annul the earlier allotment and make fresh allotmenmt at a fair value arrived at by Chartered Accountant.

If u want more info mail me @ vivekhegde1984@gmail.com

rgds

Vivek Hegde

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