DRAFT FOR APPROVAL
I, Mr XYZ, Chartered Accountant, hereby certify that M/s ABC LTD, having its
registered office at ____________________________ has issued ______ equity shares of
Rs.10 each for cash at a premium of Rs.190 per equity share totally at Rs.200 per equity
share to M/s __________________ having its registered office at
___________________________________ on __________(date).
M/s ABC LTD has received an amount of US $ _________ being the share application
money on ______(date) through ____________ Bank who has issued the Certificate of
Foreign Inward Remittance dated ______. The rupee equivalent of the said money is
Rs.________. The company is holding the original certificate issued by
________________ Bank evidencing the receipt of amount of consideration.
M/s ABC LTD has complied with all the requirements of the Companies Act 1956.
M/s ABC LTD has followed the procedure for issue of shares under the automatic route
of RBI vide Notification No.20 dated 3.5.2000.
M/s ABC LTD is eligible to issue the shares under the Foreign Exchange Management
(Transfer or issue of security by a person resident outside India) Regulations 2000.
Book value of equity shares of M/s ABC LTD as per audited Balance Sheet as at
31.3.2009 is Rs.16 per equity share. However, the company has issued equity shares of
Rs.10 each at a premium of Rs.190 per share totally at Rs.200 per equity share to M/s
____________ based on negotiations.
I have scrutinized the relevant documents and the records of the company and certify that
the information given above is true and correct to the best of my knowledge and belief.
Place : _________
Date: ______ XYZ