The MCA vide a notification dated October 18, 2017 issued Companies (Registered Valuers and Valuation) Rules, 2017. The aforesaid rule extensively provides for the qualifications, eligibility criteria and experience of persons who can act as registered valuers. Different professionals have been specified for the different class of assets. It is a mandatory requirement for the valuers to get themselves registered with the Registered Valuers Organisations ("RVO") in order to do valuation. Currently, a transition period up to March 31, 2018 has been provided to the valuers to get themselves registered with the RVOs. Until then, the valuers can continue doing valuation without registration.
This update is authored by Clasis Law, Clyde & Co's associated firm in India
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