Rule 7 - Audit Certificate. - Unlisted Public Companies (Preferential Allotment) Rules, 2003

Audit Certificate. 07. In case of every issue of shares/warrants/ fully convertible debentures/partly convertible debentures or other financial instruments with conversion option, the statutory auditors of the issuing company/company secretary in practice shall certify that the issue of the said instruments is being made in accordance with these Rules. Such certificate shall be laid before the meeting of the shareholders convened to consider the proposed issue.