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Come February 1, all insolvency professionals can appoint only ‘registered valuer’ to conduct valuation exercise under the Insolvency and Bankruptcy Code (IBC). This was stipulated by insolvency regulator IBBI in a circular issued here.
As on date, India has eight Registered Valuer Organisation (RVO) and 162 registered valuers.
An individual is eligible to be a ‘registered valuer’ only if he is -
(i) a fit and proper person
(ii) has the necessary qualification and experience
(iii) is a valuer member of a RVO
(IV) has completed a recognised educational course as member of RVO
(v) has passed the valuation examination conducted by IBBI and
(vi) is recommended by the RVO for registration as a valuer.
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