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    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

     Explanation: 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.

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