MCA seeks inputs to setup National Institute of Valuers
Published: Apr 15, 2020
By TIOLCORPLAWS News Service
NEW DELHI, APRIL 15, 2020: THE Ministry of Corporate Affairs on 30th August 2019 had set up a Committee of Experts under the Chairpersonship of Mr M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) to examine the need for an institutional framework for regulation and development of Valuation Profession. Based on comprehensive study and analysis of all relevant issues and taking the inputs of key stakeholders, the Committee has submitted its report to the Government of India on 31st March 2020 alongwith Draft Valuers Bill, 2020, recommending to establish a National Institute of Valuers.
The complete report spread over Volume I, II & III can be accessed. The report of the Committee as well as the Draft Valuers Bill, 2020 is available in the Volume I. The Report addressed to the Minister of Finance and Corporate Affairs, Ms Nirmala Sitharaman adds that the Committee had extensive consultation with the stakeholders and recommends the least disruptive, yet modern and robust, institutional framework that learns from the experience of valuation profession in India and abroad, and of other professions in India, while addressing the concerns of today and tomorrow, and ensuring respectability for valuation professionals and accountability for valuation services.
The Ministry seeks public comments and stakeholders comments on the Draft Valuers Bill, 2020 and had requested the submit inputs by the e-mail only at tharvinder-upsc@gov.in by end of business hours of 14th May 2020.