Educational Course and Continuing Education under the Companies (Registered Valuers and Valuation) Rules, 2017 – Circular No. IBBI/RVO/032/2020 dated 20.03.2020 – IBC

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Insolvency and Bankruptcy Board of India
7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001

ADVISORY

No. IBBI/RVO/032/2020, 20th March, 2020

To
All Registered Valuer Organisations (RVOs)
(By mail to registered email addresses and on website of the IBBI)

Dear Madam / Sir,

Subject: Educational Course and Continuing Education under the Companies (Registered Valuers and Valuation) Rules, 2017.

Clause (a) of sub-rule (2) of rule 12 of the Companies (Registered Values and Valuation) Rules, 2017 requires that a Registered Valuer Organisation (RVO) shall conduct educational courses in valuation, in accordance with the syllabus determined by the Authority for its valuer members. In pursuance of this, the Insolvency and Bankruptcy Board of India (IBBI), being the Authority, has determined the syllabus and has been reviewing it from time to time. In its last review notified on 14th January, 2019, effective for Examinations from 1st April, 2019, it has been specified that the educational courses shall be delivered by an RVO in not less than 50 hours in classroom mode.

2. Clause (e) of sub-rule (2) of rule 12 of the Companies (Registered Values and Valuation) Rules, 2017 requires an RVO to provide continuing education to its members. It was decided in the 12th monthly meeting of CEOs/MDs of RVOs, held on 07th February 2019, that the continuing education will be conducted in classroom mode.

3. In view of the advisories issued by various authorities in the wake of COVID-19, it may be difficult for RVOs to deliver educational courses and continuing education through class room sessions. To minimise difficulties for the registered valuers and valuer members, it has been decided that educational courses completed online and continuing education undertaken online shall be considered valid. Therefore, the RVOs are encouraged to deliver educational courses and continuing education online for their professional members.

4. The dispensation in Para (3) above will be available till 30th September, 2020.

Yours faithfully,
Sd/-
(Debajyoti Ray Chaudhuri)
Chief General Manager
Email: dr.chaudhuri@ibbi.gov.in

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