FAQ’ s

1. Who is a Valuer?

A Valuer is an expert who is authorized to estimate or assess the value or worth of any Immovable property or movable property or valuations of tangible and intangible assets.

2. Which Act / Rules defines Valuer?

The Companies (Registered Valuers and Valuation) Rules, 2017, notified in exercise of powers conferred by section 247 read with sections 458, 459 and 469 of the Companies Act, 2013 (18 of 2013), define a Valuer and lay down rules governing a Valuer inter alia including Eligibility, Qualification and Registration of Valuer.

3. Does an applicant need registration to undertake valuation?

The conduct of valuation under any other law by any person shall not be affected by virtue of coming into effect of the rules with respect to registered valuers. However, with effect from February 01, 2019, only registered valuers can undertake valuation under (i) the Companies Act, 2013 and (ii) the Insolvency and Bankruptcy Code, 2016.

4. What valuation work can a person do without registration?

With effect from February 01, 2019, only registered valuers can undertake valuation under (i) the Companies Act, 2013 and (ii) the Insolvency and Bankruptcy Code, 2016. However, any (registered or unregistered) person may continue to render valuation services under any other law which has not stipulated requirement for valuation to be undertaken by a registered valuer.

5. In case an individual does not intend to do valuation under (i) the Companies Act, 2013 and (ii) the Insolvency and Bankruptcy Code, 2016, will registration as Registered Valuer still be required?

No, conduct of valuation under any other law by any person shall not be affected unless specifically notified under any other Act.

6. Can an applicant be enrolled with two RVOs?

An individual can be a member of only one RVO for a particular asset class. However, for other asset class, an individual can be a member with another RVO which is recognised for the said asset class.

7. What is the eligibility required to become a valuer?

An individual shall have the following qualifications and experiences to be eligible for registration:

(a) post-graduate degree or post-graduate diploma, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least three years of experience in the specified discipline thereafter; or
(b) a Bachelor’s degree or equivalent, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least five years of experience in the specified discipline thereafter; or
(c) membership of a professional institute established by an Act of Parliament enacted for the purpose of regulation of a profession, with at least three years’ experience after such membership.

8. What are the proofs considered for establishing eligibility criteria for educational qualification?

The following documentary proofs (as applicable) are considered for establishing educational eligibility: (1) Final Degree Certificate, obtained from an Indian University or equivalent whether in India or aborad and / or; (2) Certificate of Membership issued by a professional institute established by an Act of Parliament.

9. If MBA degree issued by a particular Institute was recognised in 2007, can an applicant, who did MBA (Finance) prior to 2007 from the same Institute, be considered eligible for the purpose of registration since the degree is now recognised?

No, since the degree should be recognised at such time when the educational course was undertaken.

10. Can a Post Graduate in Real Estate Valuation be registered as a registered valuer for asset class “Plant & Machinery” if he has been undertaking valuation for the said asset class for more than 5 years?

No. Post-graduation in real estate valuation will not satisfy the condition of specified discipline for the said asset class.

11. If I am not eligible after submitting documents and paying enrolment fees, will I get the refund of enrolment fees?

Enrollment fees is non-refundable.

12. What are the eligibility norms, qualification and experience required for an Individual to be registered as a valuer?

Subject to meeting other requirements provided in rule 3 and rule 4 of Companies (Registered Valuers and Valuation) Rules, 2017, an individual is eligible to be a registered valuer, if he (i) is a fit and proper person, (ii) has the necessary qualification and experience, (iii) is a valuer member of a Registered Valuer Organisation (RVO), (iv) has completed a recognised educational course as member of a RVO, and (v) has passed the valuation examination conducted by the IBBI, and (vi) is recommended by the RVO for registration as a valuer.

13. Who is a fit and proper Person?

To determine whether an individual is a fit and proper person under these rules, the Authority may take into account any relevant consideration, including but not limited to the following criteria- (i) Integrity, reputation and character, (ii) Absence of convictions and restraint orders, (iii) Competence and financial solvency.

14. If a Valuer Member has passed the valuation exam but is yet to receive Valuation Examination passing certificate, is he/she required to wait for the Certificate for applying for registration?

No. In such cases, printout of result received after online examination can be enclosed as proof of passing of examination.

15. Within how many days of passing the valuation exam, should Form A be filled?

Valuation Examination result is valid for 3 years from the date of passing of exam.

16. Within how many days of submission of application, registration is granted?

Subject to fulfilment of terms and conditions, registration is granted to an applicant within 60 days of receipt of application excluding the time given to the Applicant for presenting additional documents, information or clarification, or appearing in person, as the case may be.

17. If a person has been imprisoned for an offence, does it make him ineligible for life to be a Valuer?

He becomes eligible after a period of five years have elapsed from the date of expiry of the sentence.

18. Will I be monitored when we are doing valuation of any assets?

As per the Part II - Model Bye Laws of Registered Valuers Organisation of the Companies (Registered Valuers and Valuation Rules), 2017 and Monitoring Policy of IOV-RVF, performance of valuer member can be evaluate at any time during an ongoing assignment or after completion of the same.

19. Can I surrender my Registered Valuer membership?

Yes, that can be done. Member will have to connect with the RVO to know the process.

20. What are the eligibility norms for a Partnership entity or company to be registered as a valuer?

The eligibility norms for a partnership entity or company to be registered as a valuer is stated under Rule 3(2) of the Companies (Registered Valuers and Valuation) Rules, 2017.

21. Can a partnership entity or a company rendering any kind of services be registered as a valuer?

A partnership entity or a company can be registered as valuer if they have been set up with the objects of rendering professional or financial services including valuation services. In case of Company, it should not be a subsidiary, joint venture or associate of another company or body corporate.

22. How many partners or directors need to be registered valuers for a partnership firm or a company to be eligible for registration as a valuer?

Three or all the partners or directors, whichever is lower, of the partnership firm or company, as the case may be, need to be registered valuers with atleast one of the partner or director being a registered valuer for the same asset class for which registration is being sought by the partnership firm or company. The registered valuers must possess certificate of practice for the relevant asset class.