Ministry notifies rules for registered valuers : The Tribune India

Join Whatsapp Channel

Ministry notifies rules for registered valuers

NEW DELHI: The Ministry of Corporate Affairs has notified the commencement of Section 247 of the Companies Act, 2013, (valuation by registered valuers) with effect from October 18.



Tribune News Service

New Delhi, October 20

The Ministry of Corporate Affairs has notified the commencement of Section 247 of the Companies Act, 2013, (valuation by registered valuers) with effect from October 18.

The Companies (Registered Valuers and Valuation) Rules, 2017 (Rules), which have been finalised after public consultation and deliberations with stakeholders have also been issued simultaneously.

The Rules provide for the registration of valuers under the Companies Act, 2013. The valuers--- individuals or partnership entities or companies--- would be required to be registered with the authority specified by the Centre. The role and powers of the authority with regard to registration and recognition and ancillary matters have been provided in the Rules. The registered valuers are also required to be members of the Registered Valuers Organisations, recognised by the authority under the Rules.

It is proposed to specify the Insolvency and Bankruptcy Board of India as the authority under the Rules. The relevant notification under Section 458 of the Act is being issued separately.

The Rules also lay down the mechanism to prescribe valuation standards and syllabus for conduct of valuation education courses as well as specify the requirements with regard to the contents of the valuation report.

Top News

Arvind Kejriwal to be produced before Delhi court today as 6-day ED custody ends

Excise policy case: Delhi court extends ED custody of Chief Minister Arvind Kejriwal till April 1

In his submissions, Kejriwal said, ‘I am named by 4 witnesse...

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

The bench refuses to comment on merits of the issue, saying ...

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

MEA spokesperson says India is proud of its independent and ...

Bullying Congress culture, no wonder being rejected: PM Modi, backs senior lawyers who flagged attempts to undermine public trust in judiciary

Bullying Congress culture, no wonder being rejected: PM Modi

Backs senior lawyers who flagged attempts to undermine publi...

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Bhatt, who was sacked from the force in 2015, is already beh...


Cities

View All