Valuation certificate under Rule 21, issue of equity instruments to a non-resident
Every issue to and every transfer with a non-resident has a floor or a cap, and the certificate that fixes it has to be on the file before the Board allots.
- 2 pages
- 32
- Word and PDF
- 12 September 2026
What it covers
- 1Valuation certificate under Rule 21, issue of equity instruments to a non-residentRule 21, NDI Rules 2019
Read the opening
The first part of the format, as it downloads. Blanks are highlighted.
On the letterhead of the Chartered Accountant / SEBI-registered Merchant Banker / practising Cost Accountant
CERTIFICATE OF FAIR VALUE OF EQUITY INSTRUMENTS
UNDER RULE 21 OF THE FOREIGN EXCHANGE MANAGEMENT (NON-DEBT INSTRUMENTS) RULES, 2019
To
The Board of Directors
[Name of the company]
[Registered office address]
CIN: [Company's CIN]