SPECIFIC PROVISIONS WHICH REQUIRE A VALUATION REPORT FROM A REGISTERED VALUER
WHO CAN BE A REGISTERED VALUER?
A person, who aspires to be a registered valuer, is required to possess certain qualifications and experience, obtain membership of a recognized organization of valuers and get registered as a valuer with IBBI.
The RV Rules sets out in detail the eligibility criteria, educational qualifications (degree), experience, and procedure for registration of a valuer. However, such a valuer will not undertake valuation of any assets in which he has a direct or indirect interest or becomes so interested at any time during a period of three years prior to his appointment as valuer or three years after the valuation of assets was conducted by him.
DIFFERENT QUALIFICATIONS OF REGISTERED VALUERS FOR DIFFERENT CLASSES OF ASSETS?
For valuation of land & building, a registered valuer must be a graduate or postgraduate in Civil engineering, architecture or town planning with a minimum experience of 3 to 5 years
For valuation of plant & machinery, a registered valuer must be a graduate or postgraduate in Electrical or Mechanic Engineering with a minimum experience of 3 to 5 years
For valuation of securities or financial assets, a person must be a member of ICAI, ICSI or Institute of Cost Accountants of India or an MBA with specialization in Finance, with a minimum experience of 3 years in the discipline after completing graduation
The registered valuer is responsible for any negligence or misconduct leading to disciplinary action by IBBI and regulatory penalties and fines.
SPECIFIC PROVISIONS UNDER THE COMPANIES ACT, 2013 REQUIRE A VALUATION REPORT FROM A REGISTERED VALUER
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