Registration must for valuers

Professionals carrying out asset valuations under Companies Act and Insolvency and Bankruptcy Code will have to get themselves registered with Insolvency Bankruptcy Board of India (IBBI) from April to conduct such activities, an official statement said.

“With effect from April 1, 2018 for conducting valuations required under the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016, a person is to be registered with the IBBI as a registered valuer,” the ministry of corporate affairs said in a statement. A government notification in October had delegated powers and functions to the IBBI under Companies Act and designated it as the authority under the Companies (Registered Valuers and Valuation) Rules, 2017.