Standing Order No. 3545/2023 of the Industries and Commerce Department, Government of Kerala dated 12th April, 2023 on the valuation of assets of a company [C19-VCG]

Standing Order No. 3545/2023

GOVERNMENT OF KERALA

Industries and Commerce Department, Government of Kerala

Thiruvananthapuram, dated the 12th April, 2023

STANDING ORDER

To

All Assistants Registrar of Companies,

Subject: The valuation of assets of a company by registered valuers under the Kerala Chitties Act, 1975, regarding.

In exercise of the powers conferred by section 9 of the Kerala Chitties Act, 1975 (Kerala Act 23 of 1975), the Industries and Commerce Department, Government of Kerala hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the valuation of assets of a company by registered valuers.

2. The matter has been examined. Every registered valuer carrying on the valuation of assets of a company shall make an application in Form AOC-4 to the Official Liquidator within forty-five days, accompanied by a fee of one thousand rupees.

3. The Assistant Registrar of Companies shall ensure that annual return is dealt with as directed above, and shall report compliance to the Official Liquidator within forty-five days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Industries and Commerce Department, Government of Kerala.

(Secretary to Government)