How to raise small amount for Private company?

Currently the authorised capital is 10lakhs, 1lakh shares and share price is 10. 50% stake is with me and 50% with my friend.

We are building an app and need to hire some interns, pay some bills. My friends dad has agreed to give us 3 lakhs but wants 5%.

My understanding was that this would be easy and we can just increase share price from 10 to 60 and issue roughly 5000 shares.

But CA says that this will require a valuation report to be submitted to the MCA to justify share price increase on books. Is this true? Company has zero assets and liabilities obviously.