Time is ripe to have national institute of Valuers: MCA Secretary Injeti Srinivas

K.R.Srivats New Delhi | Updated on June 08, 2019 Published on June 08, 2019

Corporate Affairs Secretary Injeti Srinivas (file photo)

Centre may look at enactment of a separate law on valuers


Time is ripe for the setting up of national level institute for valuers on the lines of the CA Institute, Corporate Affairs Secretary Injeti Srinivas said on Saturday.

"We have enough critical mass to make national institute of valuers on the lines of the ICAI", Srinivas said at a national seminar on Valuation, organised by the Insolvency and Bankruptcy Board of India (IBBI) here.

Srinivas also urged the Registered Valuers Organisations (RVO), currently eleven in number, to develop a code of conduct for the valuers. India currently has about 1,750 registered valuers.

Meanwhile, indications are that the Corporate Affairs Ministry will begin work on a Bill on valuation professionals and also pave the way for a national Institute on valuation.

Inter-ministerial consultations on this account are likely to begin soon.

It may be recalled that even in the year 2008 the Centre had come up with a Bill on Valuation, but did not proceed with it for enactment.


Srinivas said that 'Indian Valuation Standards' are a work in progress and could soon be a reality. He also felt that in a globalised world the best approach would be for Indian standards to adopt the international valuation standards, albeit with some carve outs.


Reacting to the latest RBI circular on stressed assets, Srinivas told reporters that it was a very good replacement circular on NPA resolution by the central bank. Banks will now have more delegation with Board level resolution policy.

Also banks will have discretion to choose between resolution via IBC or outside IBC, he said.

 Insolvency and Bankruptcy Code (IBC) always has been the last resort and RBI circular is in line with this, according to Srinivas. He also said that MCA will soon take up the unfinished agenda including individual Insolvency and group Insolvency.

 Commenting on the RBI circular, Sunil Mehta, Chairman Indian Banks Association, said that latest RBI move is a welcome step and it brings out a lot of clarity. The latest RBI circular has given more freedom to banks on resolution, according to Mehta, who is also Managing Director & CEO of Punjab National Bank.

 Mehta said that incremental provisioning at end of 365 days will compel banks to take decision. Also, resolution will happen faster than earlier with new RBI circular in place, he told reporters.

Published on June 08, 2019

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.