As you are aware, CCI guidelines prescribes minimum issue price at which shares can be allotted to non-residents. In order to protect interests of existing shareholders, CCI guidelines contained a mechanism to determine minimum share price using different valuation methods. However, there was no cap on the upper side and based on negotiations as well as interest of the investor, the shares can be issued at higher valuation.
In the given case, though ideal share price is Rs 16, the Company has issued shares at Rs 400... thanks to tough negotiations by existing management with the investors. CA certificate will have a mention about the same.
Mr Agrawal has already given you draft of CA certificate which can be used by you.