Disciplinary Proceedings before the respective RVO

It was also observed that in the proceedings in respect of an order of a RVO, it has been stated that the disciplinary proceedings were initiated on the directions of the IBBI, whereas no such directions were given to the RVO. This apart, several established norms were also flaunted. Taking note of the disposal of the disciplinary proceedings in such an aberrant manner, all the RVOs were advised to ensure the following:
a. The Registered Valuer against whom disciplinary proceedings are initiated cannot be a part of deliberations of the Disciplinary Committee (DC). If he is a member of the DC, he should recuse himself and the Committee should be reconstituted;
b. All the members of the DC shall be provided the necessary information and the relevant documents before the commencement of the proceedings of the DC.
c. RVOs should take an independent view on disciplinary matters concerning their members.
d. The order of the DC must be published on the website of the concerned RVO within 7 days of the issuance of the order as per bye- laws