Barbeque Nation, LIC Housing Finance face heat on independent valuation

While the companies are saying they are following Sebi guidelines, the regulator is asking them to follow their own guidelines.

More companies are in a tricky situation for not appointing an independent valuer while going in for preferential allotment of shares. Mortgage lender LIC Housing Finance and restaurant chain Barbeque-Nation Hospitality are the latest companies to face the heat over the issue. 

Stock exchanges last week asked them to explain why they did not obtain a valuation report from a registered independent valuer while pricing their preferential allotment. This came at the heels of a legal dispute between PNB Housing Finance and markets regulator Securities and Exchange Board of India (Sebi) over the issue.

Both LIC Housing and Barbeque Nation got a