SEBI invites applications, from
\neligible Chartered Accountant firms, in a sealed envelope for empanelment of
\nChartered Accountants (“CAs”), to take up work relating to valuation
\nof shares in terms of the SEBI (Substantial Acquisition of Shares and
\nTakeovers) Regulations, 2011 (“Takeover Regulations”) and valuation
\nof assets in relation to schemes of arrangement undertaken under the provisions
\nof the Companies Act, 1956.<\/p>\n

In terms of regulation 8(16) of
\nthe Takeover Regulations, SEBI may require valuation of the shares by an
\nIndependent Merchant Banker other than the manager to the open offer or an
\nIndependent Chartered Accountant in practice having a minimum experience of ten
\nyears, for the purpose of ascertaining the offer price under regulations
\n8(2)(e) and 8(4) of the Takeover Regulations.<\/p>\n

Further, SEBI, in terms of
\nparagraph 5.9 of the circular dated February 04, 2013, while processing the
\ndraft schemes of arrangement filed with it, inter alia, may seek an opinion
\nfrom an Independent Chartered Accountant.<\/p>\n

In this context, it has been
\ndecided by SEBI to empanel CAs who may be entrusted with undertaking valuation
\nwork as described above, as and when a need is felt to obtain an independent
\nfeedback on the takeover or scheme related case at hand. Upon entrustment of
\nany particular work, the CA firm will be obliged to disclose any conflict of
\ninterest it or any of its partners may have, if they were to undertake the
\nspecific assignment and remit it back to SEBI. The CA firms shall be
\ncompensated by the subject company and SEBI shall not make any payment to the
\nempanelled CA firm which is assigned a case.<\/p>\n

Download public notice of empanelment <\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

SEBI invites applications, from eligible Chartered Accountant firms, in a sealed envelope for empanelment of Chartered Accountants (“CAs”), to take up work relating to valuation of shares in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”) and valuation of assets in relation to schemes of arrangement undertaken under the … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[298],"class_list":["post-1064","post","type-post","status-publish","format-standard","hentry","category-opportunities","tag-tender"],"yoast_head":"\n