Reporting to RVOs by RVs
a) As per Point no.16 of Annexure III of the Companies (Registered Valuers and Valuation Rules, 2017), wherein it is written that "A member shall submit information about ongoing and concluded engagements as a registered valuer, in the manner and format specified by the Organisation, at least twice a year stating inter alia, the date of assignment, date of completion and reference number of valuation assignment and valuation report.
Format prescribed by IOV-RVF is M-3 and M-4.
b) As per Point VIII (20) of Annexure III of the Companies Registered Valuers and Valuation Rules, 2017, wherein it is written that "The Organisation (RVO) shall submit a report to the Authority (IBBI) in the manner specified by the Authority with information collected during monitoring, including information pertaining to -
(a) the details of the appointments made under the Act/these Rules,
(b) the transactions conducted with stakeholders during the period of his appointment;
(c) the transactions conducted with third parties during the period of his appointment; and
(d) the outcome of each appointment.
From above provision, it is mandatory by all RVOs to submit the required information to the Authority in the prescribed format provided by the Authority.
Authority in its 14th meeting of all RVOs provided the prescribed format under which every RVO shall collect the data from its RVs and submit the same to the Authority latest by April 30 of every financial year.