(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?
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Last edited by amibrahim on Thu Feb 22, 2018 11:56 am; edited 1 time in total