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Think- Before you PUNISH a VALUER !

 
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mjoshi10



Joined: 30 Aug 2008
Posts: 32

PostPosted: Wed Jan 21, 2015 10:55 am    Post subject: Think- Before you PUNISH a VALUER ! Reply with quote

Margin of Error !

When a Seasoned VALUER doing valuation and Appraisals for almost one and a half or two decades is reported to IBA in Caution list for a single mistake, Don't you think it is equivalent to
 

(1) Suggesting  a Doctor (Surgeon) to close his practice " If a patient dies on operation Table "

or

(2) Telling a lawyer to wind up his practice and surrender his license " If he looses a Case " or "If one of his client is imprisoned "

or

(3) BEST of ALL- Telling a banker to put us his resignation and sitting at his home "If one of the loan he has done , goes BAD"

I am sure that u will say NO this does not happen, If the above do not happen, Why aVALUER is said to follow such a path, Can anyone be 100% correct all the time, Is there any acceptable margin of error or not ?

I have met Valuers who have done momentous work in last two decades, Over 1,00,000-00 reports, If we look at the entire carrier just 80 to 100 reports have been challenged (Ever in court by bankers, in Police, In frauds)  that is about .1% , Can any Banker, IBA official, Persons responsible for depanelling our fellow members claim such accuracy in their WORK ????? 

IF people PUNISHING the VALUERS have less accuracy/ Consistency, How they are competent to punish the VALUERS ?

In my opinion the Intention of VALUER should also be taken into account , There is a huge difference in a Mala fied intention or a Bona fied intention, We are not here to defend the culprets or stand by any intentional mistake committed by any one, But at the same time we shall not be mere spectators to exploitation, Arm twisting andHumiliating tactics of Banker's. We shall not allow any of our fellow professional to be made SCAPEGOAT to showcase that he is the prime reason for a NPA ! We shall stand united and shall fight as a single unit Till we get justice !

Manish Joshi

Secretary- Institution Of Valuer-Ludhiana Branch

Vice President- Practising Valuers Association of Ludhiana.

093169-12191

thevaluers@gmail.com

 

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sugatabiswas



Joined: 23 Sep 2011
Posts: 42

PostPosted: Wed Jan 21, 2015 11:36 am    Post subject: Re: Think- Before you PUNISH a VALUER ! Reply with quote

Agreed

 

Sugata Biswas

Jaipur

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djagan1949



Joined: 07 Jan 2009
Posts: 313

PostPosted: Wed Jan 21, 2015 3:25 pm    Post subject: Re: Think- Before you PUNISH a VALUER ! Reply with quote

mjoshi10 ji,

 

You are correct. To be precise unintentional error that benefits either client or bank must be condoned for at least first three occassions. But valuer may be cautioned on each occassion to do a perfect job.

In fact keeping in view bank interest we refuse to value some doubtful properties or put lesser value on certain items and client can also complain to banks for punishing a valuer. Then how will they handle?

Regards

Vr. D. Jagannathan

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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Thu Jan 22, 2015 10:33 pm    Post subject: Reply with quote

WELL SAID.

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