 "Construction, workers, housing, residential property")
PNB Housing Finance’s capital raising plan was approved after appropriate due diligence was conducted, and the financier did not appoint a registered valuer as the Companies Act does not require the share price to be determined by a valuation report if preferential allotment is done, the firm said.
The mortgage financier said its articles of association (AoA), read with rule 13 of Section 62 of the Companies Act states that price of shares, to be issued on a preferential basis, shall not be required to be determined by the valuation report of a registered valuer, the company told Business Standard. The
