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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Tue Feb 06, 2018 3:37 pm    Post subject: IBBI Valuers Reply with quote

Thanks Shri Jagan ji.



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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Tue Feb 06, 2018 3:39 pm    Post subject: aide-memoir Reply with quote

aide-mémoire: 
 (1)  THE COMPANIES ACT, 2013 CHAPTER XVII - REGISTERED VALUERS:

Section 247. Valuation by registered valuers.—(1) Where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other assets (herein referred to as the assets) or net worth of a company or its liabilities under the provision of this Act, it shall be valued by a person having such qualifications and experience and registered as a valuer in such manner, on such terms and conditions as may be prescribed and appointed by the audit committee or in its absence by the Board of Directors of that company. .

(2) Insolvency and Bankruptcy Board of India (IBBI) was appointed as Valuer Registration Authority for section 247 of the Companies Act 2013 on 27th December 2017.  

(3).Vide Press Release of IBBI dated 31st December, 2017, a registered valuer may conduct valuations under any other law, if required or permitted under that law or the concerned authority which may be construed a valuer registered by Income-tax Authority can also value for Companies Act 2013 or vice versa?  

4) What will happen to the corporate members admitted prior to 27th December 2017 of the following Institutions: i) Institution of Valuers; ii) PVAI; iii) Institution of Government Approved Valuers; iv) The  Indian Institution of Valuers and v) Centre for Valuation Studies, Research and Training?

a.m.Ibrahim




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djagan1949



Joined: 07 Jan 2009
Posts: 298

PostPosted: Wed Feb 07, 2018 9:09 am    Post subject: aide-memoir Reply with quote

Respectable Sri. Amibrahim Sir,

I fully understand and endorese your concern, worry and anxiety for our valuers feternity's survival.  More than 20,000 qualified valuers enrolled over a long period of 4 decades with mutual trust cannot be left in lurch to fend for themselves with an examination and a cut off date.

Warm regards

Vr. D. Jagannathan

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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Fri Mar 30, 2018 6:48 am    Post subject: IBBI ONLINE EXAMINATION Registration Portal Reply with quote

IBBI Valuation Examination Commences on 31st  March 2018; ;log on valuation examination and appropriate asset class and then proceed:Provided by: am. Ibrahim  A

 

Model PAper L&B 28 Mar_2018-03-29 21:39:54.pdf   

Model Paper P&M 28Mar_2018-03-29 21:39:14.pdf   

Model Paper FA 28 Mar_2018-03-29 21:40:38.pdf  

 Press Release Valuation Examination-R.pdf

IBBI Commences Valuation Examination

Insolvency and Bankruptcy Board of India | Home

 Valuation Examination-Asset Class- Land & Building

Valuation Examination-Asset Class- Plant & Machinery

Valuation Examination- Asset Class- Securities or Financial Assets

 

 




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amibrahim



Joined: 03 Sep 2008
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PostPosted: Mon May 21, 2018 8:26 am    Post subject: IBBI RVOs May 2018 Reply with quote

RVOS Approved by IBBI - May 2018 : Provided by A. M. Ibrahim

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amibrahim



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Posts: 376

PostPosted: Mon May 21, 2018 8:34 am    Post subject: TIPS To Financial Assets Valuation Examinee Reply with quote

Resource to:  Valuation Examinee: Provided by: a. m. ibrahim

Valuation Examination: Securities or Financial Assets - Syllabus

Topics

Score

Valuation Application; Equity / Business Valuation; Fixed Income Securities, Option Valuation, valuation of other financial assets and liabilities, Intangible assets, and valuation application-situation specific

33

General laws & Judicial pronouncements

18

Application of Valuation techniques

14

Laws & Regulation relevant to Financial Assets Valuation

10

Over view of valuation

5

Valuation approaches & Methodologies

5

Professional ethics & standards

5

Macro Economies

4

Basic concept of finance, Decisions in finance, Finance Markets, Securities Markets

3

Financial Statement analysis

3

Total Marks examinee can score

100

 Theory  of Businesses, Business Interests and Financial Instruments valuation: .....

The Companies Act 2013 and Rules:

Tax Laws & Rules > Acts > Companies Act, 2013  

USEFUL LIVES TO COMPUTE DEPECIATION See part 48 in the above website

SCHEDULE II 15

(Seesection 123)

USEFUL LIVES TO COMPUTE DEPRECIATION

PART 'A'

1. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity.

2. For the purpose of this Schedule, the term depreciation includes amortisation.

3. Without prejudice to the foregoing provisions of paragraph 1,—

16[17[(i) The useful life of an asset shall not ordinarily be different from the useful life specified in Part C and the residual value of an asset shall not be more than five per cent of the original cost of the asset:

Provided that where a company adopts a useful life different from what is specified in Part C or uses a residual value different from the limit specified above, the financial statements shall disclose such difference and provide justification in this behalf duly supported by technical advice.]

17a [ (ii) For intangible assets, the relevant Indian Accounting Standards (Ind AS) shall apply. Where a company is not required to comply with the Indian Accounting Standards (Ind AS), it shall comply with relevant Accounting Standards under Companies (Accounting Standards) Rules, 2006], except in case of intangible assets (Toll Roads) created under 'Build, Operate and Transfer', 'Build, Own, Operate and Transfer' or any other form of public private partnership route in case of road projects. Amortisation in such cases may be done as follows:—

(a) Mode of amortisation

Amortisation Rate = Amortisation Amount × 100
Cost of Intangible Assets (A)

Amortisation Amount =

Cost of Intangible Assets (A) × Actual Revenue for the year (B)
Projected Revenue from Intangible Asset (till the end of the concession period) (C)

(b) Meaning of particulars are as follows :—

Cost of Intangible Assets (A) = Cost incurred by the company in accordance with the accounting standards.
Actual Revenue for the year (B) = Actual revenue (Toll Charges) received during the accounting year.
Projected Revenue from Intangible Asset (C) = Total projected revenue from the Intan-gible Assets as provided to the project lender at the time of financial closure/agreement.

The amortisation amount or rate should ensure that the whole of the cost of the intangible asset is amortised over the concession period.

Revenue shall be reviewed at the end of each financial year and projected revenue shall be adjusted to reflect such changes, if any, in the estimates as will lead to the actual collection at the end of the concession period.

(c) Example:—

Cost of creation of Intangible Assets : Rs. 500 Crores
Total period of Agreement : 20 Years
Time used for creation of Intangible Assets : 2 Years
Intangible Assets to be amortised in : 18 Years

Assuming that the Total revenue to be generated out of Intangible Assets over the period would be Rs. 600 Crores, in the following manner:—

Year No. Revenue (In Rs. Crores) Remarks
Year 1 5 Actual
Year 2 7.5 Estimate*
Year 3 10 Estimate*
Year 4 12.5 Estimate*
Year 5 17.5 Estimate*
Year 6 20 Estimate*
Year 7 23 Estimate*
Year 8 27 Estimate*
Year 9 31 Estimate*
Year 10 34 Estimate*
Year 11 38 Estimate*
Year 12 41 Estimate*
Year 13 46 Estimate*
Year 14 50 Estimate*
Year 15 53 Estimate*
Year 16 57 Estimate*
Year 17 60 Estimate*
Year 18 67.5 Estimate*
Total 600  

'*' will be actual at the end of financial year.

Based on this the charge for first year would be Rs. 4.16 Crore (approximately) (i.e. Rs. 5/Rs. 600 × Rs. 500 Crores) which would be charged to profit and loss and 0.83% (i.e. Rs. 4.16 Crore/Rs. 500 Crore × 100) is the amortisation rate for the first year.

Where a company arrives at the amortisation amount in respect of the said Intangible Assets in accordance with any method as per the applicable Accounting Standards, it shall disclose the same.]

More information in Part 48 of

Tax Laws & Rules > Acts > Companies Act, 2013

      .....

 




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djagan1949



Joined: 07 Jan 2009
Posts: 298

PostPosted: Sat May 26, 2018 9:02 am    Post subject: Tips to financial assets valuation Reply with quote

amibrahim

Sir we were in dark about all these things and thank you for informing us. If any other information like commencement of exams, centres to held and minimum marks for pass criteria may kindly be posted for freternity to prepare and prosper.

 

Regards

 

Vr. D. Jagannathan

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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Sun May 27, 2018 9:51 am    Post subject: VALUATION EXAMINATION-IBBI Reply with quote

Aide-mémoire/Position Paper/மலரும் நினைவுகள்

Dear valued friends,

Registered Valuers under the Companies Act, 2013, the registration Authority is “Insolvency and Bankruptcy Board of India (IBBI).  Current news can be viewed in  http://www.ibbi.gov.in/  

Asset Classes: ▪ Land & Building, ▪ Plant & Machinery and ▪ Securities or Financial Assets.

There are six (06) Registered Valuers Organisations (RVOs) as on May 27, 2018, approved by IBBI, namely: institution of Estate Managers and Appraisers, IOV Registered Valuers Foundation, ICSI Registered Valuers Organisation, The Indian Institution of Valuers, ICMAI Registered Valuers Organisation, and ICAI Registered Valuers Organisation.

Registered Values Qualification under Rule 4: An individual shall have the following qualifications and experience to be eligible for registration under rule 3, namely:- (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 and having qualification mentioned at clause (a) or (b).  

Pre-requisite for the Regstered Valuers under Rule 3 of the Companies (Registered Valuers and Valuation) Rules 2017: (a) is a valuer member of a registered valuers organization; (b) is recommended by the registered valuers organisation of which he is a valuer member for registration as a valuer; (c) has passed the valuation examination under rule 5 within three years preceding the date of making an application for registration under rule 6; (c) has passed the valuation examination under rule 5 within three years preceding the date of making an application for registration under rule 6; etc.  

Model question papers with answers, syllabus, online valuation examination registration facilities with IBBI can be logged in online via Page 4 above (Volume: 2, Page: 4) ( Access  to Online IBBI VALUATION EXAMINATION REGISTRATION PORTAL).

Best Wishes. 

A. M. Ibrahim.

For convenience, once again attaching ‘The Company (Registered Valuers & Valuation) Rules 2017.

 

 

 




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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Sun May 27, 2018 11:27 am    Post subject: Valuation Profession & emergence of automation Reply with quote

Emergence of new technologies in valuation process

The professionalism and ensuring public trust in the valuation profession can be accomplished through the promotion of standards, valuers qualifications, and voluntary guidance on recognized valuation methods and techniques. Having pan India aligned /globally aligned set of standards where people can approach valuation issues in a consistent way is necessary to foster quality best practice. The author has no knowledge of the standards (Performance & Ethical) Setters for all asset classes in India. The Institution of Chartered Accountants of India (ICAI) has recently published Draft Report (IVS-India Valuation Standards) for Financial Assets Valuation.

In valuation profession transparency is essential because almost all the works we do needs to be reviewed by a third party. How we are going to face the emergence of new technologies (automation, artificial intelligence or robotic software tools as part of valuation process).

How do we ensure that accountability is n’t just shifted over to the software or the algorithm?

a.m. Ibrahim

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amibrahim



Joined: 03 Sep 2008
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PostPosted: Thu May 31, 2018 6:11 am    Post subject: Online IBBI Valuer Examination Reply with quote

It is informed that the applications for registration as registered valuer shall be submitted online with effect from 1st July, 2018, the details of which shall be available on the web site of the Insolvency and Bankruptcy Board of India, www.ibbi.gov.in.  Vide IBBI Circular No. RVO/12/ 2018  dated 30th May 2018

Provided by: a.m. Ibrahim




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amibrahim



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PostPosted: Tue Jun 05, 2018 2:23 pm    Post subject: Method of Valuation Reply with quote

 

Draft Rules of Method of Valuation  of Fair Market Value  in respect of the Trust or the Institution -Chapter XII-EB of the Income-tax Act 1961 dated 2006:

 

 

 

 

 

 

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amibrahim



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PostPosted: Tue Jun 05, 2018 2:29 pm    Post subject: Method of Valuation Reply with quote




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amibrahim



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PostPosted: Wed Jul 25, 2018 2:10 pm    Post subject: BSINESS VALUATION Reply with quote

 

 



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amibrahim



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PostPosted: Wed Jul 25, 2018 2:13 pm    Post subject: Business Valuation Reply with quote

Note that this is not the value of the equity of the firm.

To get to the value of the equity, we need to subtract out from ₹2,262 million

the value of all non-equity claims in the firm. “SAHANA” had debt outstanding of ₹138.25 million

at the end of 1999. Subtracting this from the value of the firm would yield the value of equity at the firm:

Value of equity at SAHANA =₹2,262 - ₹ 138 = ₹2,124 million

More information can be viewed in the Author’s article “BUSINESS VALUATION”

Present Value of ₹ 1 @ 12% @Year 1 is 1.12^-1  which is end of year.

The formula for mid year Gordon Model Multiple : 1 /r - g  x 1+g, where r is discount rate and g is perpetual growth rate.

 

Source: Author's View and  internet searches.



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amibrahim



Joined: 03 Sep 2008
Posts: 376

PostPosted: Wed Jul 25, 2018 2:18 pm    Post subject: AM IBRAHIM Present Value Table Reply with quote

Disclaimer: Utmost care is taken while compiling the Present Value (PV) Table (ut-supra) and Gordon Model Multiple (GMM)  Table  (ut-infra) for Business Community, the method compiled is explained. Any variance / mistake arising out of adopting this data the author is not liable / responsible for the consequences/damages.

 

 

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