Individuals, partnership entities as well as companies can act as valuers under the Companies Act after getting registered with an authority specified by the government, says a notification.
The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers in company registration in India.
The Companies (Registered Valuers and Valuation) Rules, 2017 have been have been notified by the ministry. The rules provide for registration of valuers under the Companies Act, 2013.
"The valuers, who may be individuals or partnership entities or companies, would be required to be registered with the authority specified by the central government. "The rules provide for registration of different category of valuers and lay down the requirements on their eligibility, qualifications and experience," an official release said today. company incorporation in India.
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