HOW TO BECOME A REGISTERD VALUER

How to Become a Registered Valuer, Eligibility & Qualifications

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Registered Valuer” means a person registered with the authority in accordance with these rules and the term “registered Valuer” shall be construed accordingly.

A Valuer shall conduct valuation required under the Act as per these rules and he may conduct valuation as per these rules if required under any other law or by any other regulatory authority.

FUNCTIONS OF A VALUER:-

A Valuer shall conduct valuation required under the Act as per these rules and he may conduct valuation as per these rules if required under any other law or by any other regulatory authority.

The Registered Valuer can do valuation under the following Acts/Regulations-

  1. Companies Act, 2013
  2. Insolvency Code, 2016 and
  3. III. SEBI (REIT and InvITS) Regulations, 2016

Provisions under the Companies Act, 2013 which requires Valuation Report  from a Registered Valuer

SECTION PARTICULARS
62(1)C Valuation report for Further Issue of Shares
236(2) Valuation of equity shares held by the Minority Share Holders.
260(2) (C) Preparing valuation report in respect of shares and assets to arrive at the reserve price for company Administrator
281(1) Valuing assets for submission of report by liquidator
230(3) Valuation report along with Notice of creditors/shareholders meeting –Under the scheme of compromise/Arrangement.
232(2(d) The report of the expert with regard to valuation, if any, would be circulated for a meeting of creditors/Members
232(3)(h) The Valuation report to be made by the tribunal for exit opportunity to the shareholders of transferor Company – Under the scheme of Compromise/Arrangement in case the Transferor company is Listed Company and the Transferee-company is an unlisted Company.

Eligibility for Register Valuer:

A person shall be eligible to be a registered valuer if he-

(a) is a valuer member of a registered valuers organization;

(b) is recommended by the registered valuer’s organization of which he is a valuer member for registration as a valuer;

(c) has passed the valuation examination within three years preceding the date of making an application for registration

(d) possesses the qualifications and experience as specified hereunder.

(e) is not a minor;

(f) has not been declared to be of unsound mind;

(g) is not an undercharged bankrupt, or has not applied to be adjudicated as a bankrupt;

(h) is a person resident in India;

(i) has not been convicted by any competent court for an offense punishable with imprisonment for a term exceeding six months or for an offense involving moral turpitude, and a period of five years has not elapsed from the date of expiry of the sentence:

Provided that if a person has been convicted of any offense and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be registered;

(j) has not been levied a penalty under section 271J of Income-tax Act, 1961 (43 of 1961) and time limit for filing appeal before Commissioner of Income-tax (Appeals) or Income-tax Appellate Tribunal, as the case may be has expired, or such penalty has been confirmed by Income-tax Appellate Tribunal, and five years have not elapsed after levy of such penalty; and

(k) are a fit and proper person

QUALIFICATIONS AND EXPERIENCE

As per rule 4 read with Annexure-IV of the Companies (Registered Valuers and Valuation) Rules, 2017, an individual shall have the following qualifications and experience to be eligible for registration as Registered Valuer:

  1. Graduate + 5 years post qualification experience, or
  2. Post Graduate + 3 years post qualification experience, or
  3. Membership of a professional institute + 3 years post qualification experience
VALUATION EXAMINATION

(1) The authority shall, either on its own or through a designated agency, conduct valuation examination for one or more asset classes, for individuals, who possess the qualifications and experience as specified in rule 4, and have completed their educational courses as a member of a registered valuers organization, to test their professional knowledge, skills, values, and ethics in respect of valuation.

(2) The authority shall determine the syllabus for various valuation-specific subjects or assets classes for the valuation examination on the recommendation of one or more Committee of experts constituted by the authority in this regard.

APPLICATION FOR CERTIFICATE OF REGISTRATION

An individual eligible for registration as a Registered Valuer under rule 3 may make an application to the authority in Form-A of Annexure-II along with a non-refundable application fee of five thousand rupees in favor of the authority.

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