Steps to Register as a Registered Valuer Entity – IOV RVF

Steps to Register as a Registered Valuer Entity – IOV RVF

Registered Valuer Entity

A Registered Valuer Entity (RV-E) refers to a registered partnership firm or company recognized by the Insolvency and Bankruptcy Board of India (IBBI) to provide professional valuation services in alignment with the prescribed norms under the Companies (Registered Valuers and Valuation) Rules, 2017.

This recognition signifies that the entity has met the standards and requirements set forth for valuer firms, ensuring compliance with the regulatory framework governing valuation practices.

Benefits to Register as a Valuers Entity

There are innumerable benefits to register as a Valuers Entity. Some of them are listed below:

1. Established Professional Reputation: Registration is significant in elevating the professional reputation of a Valuation Entity, instilling confidence among clients and stakeholders.

2. Expanded Horizons: Registration unlocks diverse opportunities, fostering collaborations and enabling participation in innumerable valuation projects, both in the public and private sectors.

3. Commitment to Compliance: A Registered Entity assures a commitment to compliance, upholding ethical valuation practices.

4. Client Trust: Clients value the assurance that comes with engaging a registered valuation entity, knowing it operates within the legal and ethical boundaries of regulatory frameworks.

5. Recognized Industry Presence: Registration drives the entity into the spotlight, garnering recognition as a reputable and dependable player in the market.

 

Eligibility Criteria

Rule 3(2) of the Companies (Registered Valuers and Valuation) Rules, 2017 (the Rules) specifies the eligibility criteria which are as follows:

1. The partnership or LLP should focus on offering professional or financial services, including valuation. If it's a company, it needs to be linked as a subsidiary, joint venture, or associate to another corporate entity.
2. Three Partners or all the partners of the Partnership Entity/LLP/Company whichever is lower shall be the Registered Valuers.
3. The Partnership firm/LLP/Company aiming to be a Registered Valuer must have at least one Partner registered for the specific asset class intended for valuation.
4. The Partnership Entity/LLP/Company is not currently going through insolvency resolution or is an undischarged bankrupt.
5. All the partners shall be eligible under clauses (c), (d), (e), (f), (g), (h), (i), (j) and (k) of sub rule (1) of Rule 3 of the Rules.

Documents Required:

To become an RV-E, a detailed application form needs to be filled as a pre-requisite for being entitled with an Entity Membership.

This application form consists of the following stages:

1. Basic details of the Entity
2. Details of Director/Partners
3. Attachment of some important documents like:

Registration Certificate, PAN Card, Registered Partnership Deed, IBBI Registration Certificate of all Directors, Copy of Membership Certificate with a Registered Valuers Organisation of all Directors, List of Partners on the date of application and Payment.

Where to apply?

To become a Registered Valuer Entity (RVE), take the first step by visiting the IOV Registered Valuers Foundation's website. By registering on this platform, you can establish a robust economic standing for your entity within the valuation fraternity.

Register now to unlock the full potential of your valuation expertise and contribute to the growth of this esteemed community.

 

Read our other blog “Generating Business as a Valuer” click here