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The Centre has set up a 12-member Committee to make recommendations on the formulations and laying down of valuation standards and policies for compliance by companies and registered valuers. This committee will be headed by R Narayanaswamy, Professor-Finance & Accounting, Indian Institute of Management, Bengaluru.
The members of this panel include K Biswal, Additional Secretary, Ministry of Law & Justice; Navrang Saini, Wholetime Member, IBBI; K V R Murty, Joint Secretary(policy), Ministry of Corporate Affairs; Saurav Sinha, Chief General Manager-in-charge, Reserve Bank of India; Jayanta Jash, Chief General Manager, SEBI, and A Ramana Rao, General Manager, IRDAI.
This panel will also have representatives from FICCI, CII and nominees of ICSI Registered Valuers Organisation and IOV Registered Valuers Foundation.
It may be recalled that the Companies (Registered Valuers and Valuation) Rules 2017 had provided that the Centre may constitute a committee to be known as "committee to advise on valuation matters" to make recommendations on formulation and laying down of valuation standards and policies for compliance by companies and registered valuers.
The rules also stipulate that the Chairperson and members of the committee will have a tenure of three years and they cannot have more than two tenures.
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