Private placement of shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 VALUATION REPORT(IN FORM MGT-14) SUBMITTED GET INTO RESUBMISSION i.e. share can't be issued at a price less than price arrived at valuation report.

MY PAS-3 FORM GET APPROVED
NOW WHAT TO DO

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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17 May 2016 Valuation Report is not applicable in case of Private Placement under Section 42.

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 THANK YOU SIR
NOW PLEASE HELP ME A WAY OUT

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CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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17 May 2016 What is the real problem.....

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 I HAVE FILED FORM MGT-14 UNDER PRIVATE PLACEMENT OF SHARES @Rs 10 per share in which i have also attach valuation report in which shares value was Rs 11 per share. Form PAS-3 GET APPROVED BUT MGT-14 GET THIS REMARK

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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18 May 2016 Re submit the form again with the clarification that where it is prohibit that the share cannot be issued below than its valuation report. Further, also inform that Valuation is not applicable, however, it was obtained.

OR

File MGT 14 again without valuation report, let earlier form expire.