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Expert under the Companies Act 2013 : Definition & Provisions

Definition of Expert

The definition of "Expert" is provided in sub-section 38 of section 2 of the Companies Act 2013.

Accordingly, an “expert” includes an engineer, a valuer, a chartered accountant, a company secretary, a cost accountant and any other person who has the power or authority to issue a certificate in pursuance of any law for the time being in force.

Reference of Expert in various provisions under the Act
  1. Section 26(1)(a)(v) & section 388 - Prospectus - A prospectus should include an expert's opinion.
  2. Section 232(2)(d) - Merger - Where an order has been made by the Tribunal with regard to an application made to the Tribunal under section 230 for the sanctioning of a compromise or an arrangement proposed between a company and any such persons as are mentioned in that section, the merging companies or the companies in respect of which a division is proposed, shall be required to circulate, along with other documents for the meeting so ordered by the Tribunal, the report of the expert with regard to valuation, if any.

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