ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    The valuer appointed under section 247 of the Companies

    Act shall not undertake valuation of any assets in which he has a direct or indirect interest or becomes so interested at any time during a period of ___________________
    A Two years prior to his appointment as valuer Correct Answer Incorrect Answer
    B Three years prior to his appointment as valuer Correct Answer Incorrect Answer
    C Three years after the valuation of assets was conducted by him Correct Answer Incorrect Answer
    D Either a or c Correct Answer Incorrect Answer
    E Either b or c Correct Answer Incorrect Answer

    Solution

    ┬аExplanation: Section 247. Valuation by registered valuers: (2) The valuer appointed under sub-section (1) shall: (a) make an impartial, true and fair valuation of any assets which may be required to be valued; (b) exercise due diligence while performing the functions as valuer; (c) make the valuation in accordance with such rules as may be prescribed; and (d) not undertake valuation of any assets in which he has a direct or indirect interest or becomes so interested at any time during a period of three years prior to his appointment as valuer or three years after the valuation of assets was conducted by him.

    Practice Next
    More Other Laws and Acts Questions
    ask-question