The Companies (Registered Valuers and Valuation) Rules, 2017, notified in exercise of powers conferred by section 247 read with sections 458, 459 and 469 of the Companies Act, 2013 (18 of 2013), define a Valuer and lay down rules governing a Valuer inter alia including Eligibility, Qualification and Registration of Valuer.

A Valuer is an individual (or an entity) who does the work of valuation. A registered valuer means a person registered with the Authority in accordance with the Companies (Registered Valuers and Valuation) Rules, 2017 (the Rules).

An individual, a partnership entity or a company are eligible for registration subject to meeting the eligibility requirements provided for in rule 3 of the Companies (Registered Valuers and Valuation) Rules, 2017.

For all asset classes, where the eligibility is being determined based on graduate or post-graduate level degree /diploma, obtained from a recognised university or equivalent in India or abroad, such qualification should have been obtained on pursuing a regular full time course.

Yes, since the same has been recognised by Ministry of Human Resource Development vide notification no. F. 18-20/83/T.12/T.7/T.13 dated July 11, 1988.

(i) Land and Building: Yes, since more than 5 years of experience in the specified discipline is established.
(ii) Securities and Financial Assets: No, since post qualification experience of 3 years in specified discipline cannot be established.

The following documentary proofs (as applicable) are considered for establishing educational eligibility:
(1) Final Degree Certificate, obtained from an Indian University or equivalent whether in India or aborad and / or;
(2) Certificate of Membership issued by a professional institute established by an Act of Parliament.

Is provisional Degree certificate considered for establishing educational eligibility?-No.

Is Marksheet considered for establishing educational eligibility?-No.

Will self-certification of experience by an applicant, who is not a member of a professional institute, be considered a proof of experience?-No.

Will self-certification of experience by an applicant, who is not a member of a professional institute, be considered a proof of experience if the same is given on
an Affidavit?-No.

List of recognised Indian Universities is listed on the website of University
Grants Commission (UGC). Link to the same (as on December 20, 2018) is as under:

https://www.ugc.ac.in/oldpdf/Consolidated%20list%20of%20All%20Universities.pdf

1. Can a Graduate in Commerce be registered as a registered valuer for asset class “Land & Building” if he has been undertaking valuation for the said asset class for more than 5 years?
Ans. No. Graduation in commerce will not satisfy the condition of specified discipline.

2. Can a Graduate in Commerce and Post Graduate in Real Estate Valuation be registered as a registered valuer for asset class “Land & Building” if, after postgraduation, the applicant has experience in valuation for the said asset class for more than 5 years?
Ans. Yes. In this case, post-graduation in real estate valuation will satisfy the condition of specified discipline. The condition of mandatory experience requirement is being satisfied in terms of number of years of experience in the specified discipline.

3. Can a Graduate in Commerce and Post Graduate in Real Estate Valuation be registered as a registered valuer for asset class “Land & Building” if he has been undertaking valuation for the said asset class for more than 5 years post completion of Graduation?
Ans. No. In this case, the education eligibility is established from Post-Graduation in Real Estate Valuation. The experience is with regard to a prior period and not after completion of the said course.

4. Can a Master of Commerce with specialisation in Finance be registered as a valuer for asset class “Securities and Financial Assets” if he has been undertaking
valuation for the said asset class for more than 5 years?

Ans. No. The applicant should be a Post Graduate in Finance. In the current case, the applicant is a Post Graduate in Commerce.

5. Can a Post Graduate in Real Estate Valuation be registered as a registered valuer for asset class “Plant & Machinery” if he has been undertaking valuation for the said asset class for more than 5 years?
Ans. No. Post-graduation in real estate valuation will not satisfy the condition of
specified discipline for the said asset class.

6. Can a BE (Mechanical) applicant be registered as a registered valuer for asset class “Plant & Machinery” if he has been undertaking valuation for the said asset class for more than 3 years?
Ans. No. While the education requirement is being met, the mandatory experience requirement is not met i.e., minimum 5 years after securing graduation in the specified discipline.

7. Can a BE (Electrical) applicant be registered as a registered valuer for asset class “Plant & Machinery” if he has been undertaking valuation for the said asset class for more than 5 years prior to completion of the course?
Ans. No. The minimum experience in specified discipline must pertain to the period after completion of the qualifying degree.

8. Can a B. Arch applicant be registered as a registered valuer for asset class “Land  and Building” if he has been undertaking valuation for the said asset class for more than 5 years?
Ans. Yes. In this case, both education and minimum experience in specified discipline are being met. This is subject to the condition that the experience pertains to the period after completion of the qualifying education qualification, in this case B. Arch.

9. If an applicant holds BE (Civil) and Post Graduate Degree in Valuation of Plant
& Machinery and has more than 5 years’ experience in valuation of “Land & Building” pursuant to graduation and 5 years’ experience in valuation of “Plant & Machinery” pursuant to post graduation, can the applicant be registered as a registered valuer for both asset class “Land and Building” and “Plant & Machinery”?
Ans. Yes. In this case, the applicant has relevant experience in respective specified discipline and has acquired the experience after attainment of respective educational qualification in the specified discipline.

10. Can a Chartered Accountant with more than 3 years of experience in valuation of financial securities be considered for registration as registered valuer for asset  class “Securities or Financial Assets” if the applicant has not undertaken Graduation?
Ans. Yes.

11. Can a Chartered Accountant with more than 3 years of experience in valuation of financial securities be considered for registration as registered valuer for asset class “Securities or Financial Assets” if the applicant is a Graduate in Civil Engineering?
Ans. Yes.

12. Can an individual possessing MBA in any discipline be eligible to seek registration for asset class “Securities and Financial Assets”?
Ans. Only applicants with specialisation in Finance will be eligible for registration as valuer.

13. Can an individual possessing MBA (Finance) from a foreign university seek registration for asset class “Securities and Financial Assets”?
Ans. Yes. The qualifying degree should have been obtained from a recognised Indian University or equivalent whether in India or abroad. In case the qualifying degree has been attained from abroad, the same should be recognised in India.

14. Which all foreign universities and foreign degrees are considered eligible as qualifying educational qualification?
Ans. The Ministry of Human Resource Development (MHRD), Government of India (GOI) vide their letter No. F.15-17/94-TS IV dated March 13, 1995 issued a notification that those foreign qualifications which are recognized/equated by Association of Indian Universities (AIU), are treated as recognized for the purpose of employment.
Accordingly, an applicant with a foreign degree must enclose Equivalence Certificate issued by AIU with respect to the foreign degree based on which registration is being sought. Link to AIU website is as under: http://www.aiu.ac.in

1. Is 50 hours training mandatory for a person who is already undertaking valuation for Banks / Institutions / under IT Act etc?
Ans. Yes. The training is mandatory.

2. Who gives the 50 hours mandatory training?
Ans. Training is scheduled by RVOs. For exact schedule of training, the applicant
should contact respective RVO.

3. In case a Registered Valuer for one asset class is eligible for registration for another asset class, will 50 hours training be required to be undertaken again?
Ans. Yes, since the training is asset class specific.

4. Can an employed individual undertake 50 hours mandatory training?
Ans. Yes. However, an individual shall not be in employment at the time of applying for registration as valuer.

5. Are applicants above a certain age threshold exempted from appearing for training?
Ans. No, 50 hours training for respective asset class is mandatory for all applicants, irrespective of their age, intending to seek registration.

1. Is passing of Valuation exam mandatory?
Ans. Yes.

2. Is the examination conducted online or offline?
Ans. Examinations are conducted in online mode only.

3. Within how many days of passing the valuation exam, should Form A be filled?
Ans. Valuation Examination result is valid for 3 years from the date of passing of
exam.

4. Are applicants above a certain age threshold exempted from passing Valuation examination?
Ans. No, passing of examination is mandatory for all applicants seeking registration irrespective of the age of applicant.

5. If a Valuer Member has passed the valuation exam but is yet to receive Valuation Examination passing certificate, is he/she required to wait for the Certificate for applying for registration?
Ans. No. In such cases, printout of result received after online examination can be enclosed as proof of passing of examination.

6. Where can I get more information on Syllabus, Valuation examination etc?
Ans. Details with regard to Valuation Examination, including Asset class wise Syllabus, can be accessed at https://ibbi.gov.in/ValuationExamination.html

7. Are applicants above a certain age threshold exempted from appearing for valuation examination if they have undertaken 50 hours training?
Ans. No. No one is exempted from appearing for the valuation examination.

With effect from February 01, 2019, only registered valuers can undertake valuation under (i) the Companies Act, 2013 and (ii) the Insolvency and Bankruptcy Code, 2016. However, any (registered or unregistered) person may continue to render valuation services under any other law which has not stipulated requirement for valuation to be undertaken by a registered valuer.

The conduct of valuation under any other law by any person shall not be affected
by virtue of coming into effect of the rules with respect to registered valuers.
However, with effect from February 01, 2019, only registered valuers can undertake valuation under (i) the Companies Act, 2013 and (ii) the Insolvency and Bankruptcy Code, 2016.

A registered valuer can undertake valuation of assets only for the class of asset
for which he/she is registered for.

Yes, subject to having the qualification and experience provided in the Companies (Registered Valuers and Valuation) Rules, 2017 for each asset class and you have passed the valuation examination for each asset class.

An individual can be a member of only one RVO for a particular asset class.
However, for other asset class, an individual can be a member with another RVO if the existing RVO is not recognised to accept members in the asset class for which membership is being sought.

Yes, with the prior written permission of IBBI, a registered valuer can shift his membership from one RVO to another.

Yes.

No, at the time of applying for registration, an applicant must not be in employment. In effect, while a person in employment can appear for the valuation examination, such person shall not be in employment at the time of seeking registration as a valuer.

A partnership entity or a company can be registered as valuer if they have been set up with the objects of rendering professional or financial services including valuation services. In case of Company, it should not be a subsidiary, joint venture or associate of another company or body corporate.

Yes, all partners or directors should have passed the valuation examination under rule 5 within three years preceding the date of making an application for registration
under rule 6.

Three or all the partners or directors, whichever is lower, of the partnership firm or company, as the case may be, need to be registered valuers with atleast one of the partner or director being a registered valuer for the same asset class for which registration is being sought by the partnership firm or company.

No, a partnership firm or a company needs to have at-least one partner in the asset class ‘Land and Building’ to be granted registration as a registered valuer in the asset class of ‘Land and Building’.

No. Only a partnership entity registered under the India Partnership Act, 1932 or a limited liability partnership registered under the Limited Liability Partnership Act, 2008 can be registered as a Valuer.

Yes, subject to meeting the conditions stated for the asset class for which registration is being sought by the partnership firm or company.