Audit Committee resolution format for appointing a registered valuer under Sections 177(4)(vi) and 247, with IBBI registration, independence and Rule 8 review.
“RESOLVED THAT pursuant to Sections 177(4)(vi) and 247 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Registered Valuers and Valuation) Rules, 2017, the Audit Committee hereby appoints [Mr./Ms. [●] / M/s [●]], Registered Valuer (IBBI Registration No.: [●]), registered for the asset class [Securities or Financial Assets / Land and Building / Plant and Machinery], to value [●] of the Company as on [●], as required under Section [●] of the said Act for the purpose of [●], at a fee of ₹[●] (Rupees [●] only) plus applicable taxes.
RESOLVED FURTHER THAT the valuation report shall be placed before the Committee for review of its compliance with Rule 8 of the said Rules and the reasonableness of the methods and assumptions used, and shall be placed before the Board or relied upon in any notice, scheme or filing only after that review.
RESOLVED FURTHER THAT the Company Secretary be and is hereby authorised to issue the letter of engagement to the valuer and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”