How to become a Registered Valuer under Insolvency and Bankruptcy Board of India (IBBI)?

How to become a Registered Valuer under Insolvency and Bankruptcy Board of India (IBBI)?

Becoming a Registered Valuer is becoming tough day by day as the Examination questions were getting tough tougher and toughest. Unless and until we are conceptually strong, it is difficult to crack the Exam.

The good thing about this Valuation Course is we only need to cross a Single hurdle, i.e., one and only one exam. And some more are…you can write any number of attempts and at any time (based on the availability of Slots)

Approximate Cost: Rs.50,000 to 60,000 [from start till getting your Certificate of Practice] (for me it was around 50k)

Approximate Time to Complete: Minimum 1.5 months. (for me it took around 2 months)

Approximate Time for Preparation: Dedicated 15 to 20 days (based on my personal experience)

Eligibility and Qualification:

Eligibility Qualification and Experience for Registration as Valuer
Asset Class	Qualification	Experience in specified discipline.
Plant and Machinery	(i) Graduate in a) Mechanical, b) Electrical, c) Electronic and Communication, d) Electronic and Instrumentation, e) Production, f) Chemical, g) Textiles, h) Leather, i) Metallurgy, or j) Aeronautical Engineering or k) Graduate in Valuation of Plant and Machinery or equivalent.	(i) Five years
	(ii) Post Graduate on the above courses.	(ii) Three years
Land and Building	(i) Graduate in a) Civil Engineering, b) Architecture or c) Town Planning or equivalent;	(i) Five years
	(ii) Post Graduate on the above courses and also in the valuation of land and building or Real Estate Valuation (a two-year full-time post-graduation course).	(ii) Three years.
Securities or Financial Assets	(i) a) Member of Institute of Chartered Accountants of India, b) Member of Institute of Company Secretaries of India, c) Member of the Institute of Cost Accountants of India, d) Master of Business Administration, or e) Post-Graduate Diploma in Business Management (specialization in finance).	Three years
	(ii) Post Graduate in Finance

What are the educational qualifications and experience required for an individual applicant?

Ans. An individual shall have the following qualifications and experiences to be eligible for registration:

(a) post-graduate degree or post-graduate diploma, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least three years of experience in the specified discipline thereafter; or

(b) a Bachelor’s degree or equivalent, in the specified discipline, from a University or Institute established, recognised or incorporated by law in India and at least five years of experience in the specified discipline thereafter; or

(c) membership of a professional institute established by an Act of Parliament enacted for the purpose of regulation of a profession, with at least three years’ experience after such membership.

As per the above, one can become a Registered Valuer in all the Classes or for any one class based on eligibility and qualification.

I am a Registered Valuer for the asset class, Securities or Financial Assets…as I am a Chartered Accountant, I am eligible for only this Class of Assets.

Once you satisfy the Eligibility and Qualification Criteria, we can start our journey towards becoming a Registered Valuer, by following these steps:

Step1:

We need to attend the mandatory 50 hours of training from any of the below Registered Valuer Organisations* (RVO) as mentioned on IBBI Website:

https://ibbi.gov.in/service-provider/valuer-organisations

They will charge around Rs.20,000 to 25,000. After Covid, all RVOs are conducting online classes, the important thing is we need to switch on our webcam throughout the sessions, unlike any other classes. You are free to choose any RVO, each RVO is like a separate Private Institute under IBBI.

Once the 50hrs training is completed then, your RVO will issue a Certificate of Completion of 50 hrs Training.

Step 2:

After receiving the Certificate from your RVO, we can apply for the Examination.

Details Relating to Exam:

Mode: Online

Location: NISM Examination Centers

Website for Registration: https://certifications.nism.ac.in/nismaol/

Exam Fee: Rs.5,900 per attempt (w.e.f. 1st October 2022)

Exam Schedule: Daily 4 Slots

Number of attempts: No Limit (we can write any number of times)

Cooling Period: 2 months between two consecutive attempts (w.e.f. 7th September 2022)

Marks: 100 Marks contains Multiple Choice questions.

Exam Time: 2 hrs

Negative Marks: 1/4th marks of the wrong question [ if it is 1 mark question the negative will be 0.25 mark]

Pass Marks: 60 Marks

Every time we apply, we need to upload our Certificate issued by our RVO.

Step3:

After passing the Registered Valuer Exam, we can apply for registration in Form-A with the provisional marks sheet (received at the exam centre) without waiting for an official Passing certificate from IBBI.

Registration and Certificate of Practice (COP) need to be applied with the same RVO from where we had completed 50 hrs training. If we want to shift to another RVO, then we need to follow the prescribed procedure. We can shift at any time even after receiving COP.

Our association with IBBI is through an RVO, so we need to choose the best RVO for taking Membership and COP.

You can start Practicing after receiving COP from your RVO.

After passing we need to apply for COP within 3 years. This means if you are in Employment, you must quit the Job within 3 years and then only you are eligible for applying COP.

Here you can find all the FAQs:  https://taxguru.in/income-tax/ibbi-valuation-examination-faqs.html

For any further info. you can mail to ca.saipratapk@gmail.com

(Republished with amendments)