Constitution of Committee of Experts on Valuation Profession

Committee of Experts on Valuation Profession

Government, vide its order dated 30th August 2019, constituted a Committee of Experts (CoE) on valuation profession under the Chairmanship of Dr. M. S. Sahoo, Chairperson, IBBI. The other members of the CoE are: Mr. Prafulla Chhajed, President, ICAI; Mr. Balwinder Singh, President, ICMAI; Mr. Ranjeet Pandey, President, ICSI; Mr. B. Sriram, Former MD, IDBI Bank; Prof. R. Narayanaswamy, IIM, Banglaore; Mr. Ajay Bahl, Founding Partner, AZB & Partners; and Mr. Manoj Pandey, Joint Secretary, MCA. The terms of reference of the CoE include: (a) Institutional framework for regulation and development of valuation profession and its scope; (b) Regulatory architecture, including the extent of self-regulation and statutory regulation; (c) Governance of regulatory institutions; (d) Monitoring of the conduct and performance of valuers and disciplinary mechanism; and (e) Transitional arrangement for registered valuers and RVOs.

Full text of the Order is as follows:-

No. 12/9/2019 – PI
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS

5TH Floor, ‘A’ Wing, Shastri Bhawan
Dr. Rajendra Prasad Road,
New Delhi-110001
Dated: 30-08-2019

ORDER

Sub: Constitution of a Committee of Experts to examine the need for an Institutional framework for regulation and development of valuation professionals regarding

A Committee of Experts with the following composition is hereby constituted to examine the need for an Institutional framework for regulation and development of valuation professionals:

2. Terms of Reference of the Committee are as follows:

a) Institutional framework for regulation and development of the valuation profession and its scope;

b) Regulatory architecture, including the extent of self-regulation and statutory regulation, Governance of the regulatory institutions; Monitoring of the conduct and performance of valuers and disciplinary mechanism;

c) Mechanism for development of a cadre of valuers, including for the current practitioners and freshers who wish to have a career in valuation profession; knowledge development and management, databases, technology etc.;

d) Provision of valuation services, including market structure, valuation standards;

e) Transitional arrangement for Registered Valuers/ other valuers & Registered Valuers Organizations (RVOs);

f) Resource planning for all the above;

g) Any other aspect that may be referred to the Committee by the Government or the Committee may consider relevant.

3. The Committee may also engage experts from the relevant field, if required.

4. Secretarial assistance to the Committee will be provided by the Insolvency and Bankruptcy Board of India (IBBI).

5. The Committee will submit its report to this Ministry within 3 months from the date of its constitution.

(Tharvinder Singh)
Under Secretary to the Government of India
Tele: 011-23389782.

To:

1. M. S. Sahoo, Chairperson,
2nd Floor, Jeevan Vihar Building, Parliament Street, New Delhi-110001.

2. Prafulla Chhajed, Member,
President, ICAI, ICAI Bhawan, Indraprastha Marg, Post Box No. 7100, New Delhi- 110002.

3. Balwinder Singh, Member,
President, ICoAI, 3, Institutional Area, Lodhi Road, New Delhi – 110003.

4. Ranjeet Pandey, Member,
President, ICSI, ICSI House, 22-Institutional Area, Lodi Road, New Delhi-110003.

5. B. Sriram, Member,
Ex- CEO & MD, IDBI Bank, Plot No. 32, Sector-4, Dwarka, New Delhi-110078.

6. R. Narayanaswamy, Member,
Indian Institute of Management, Bangalore, Bannerghatta Road, Bengaluru-560076.

7. Ajay Bahl, Member
Founding Member, AZB & Partners, Unit No. 4B, 4th Floor, Hansalaya Building, Barakhamba Road, New Delhi-110001.

8. Manoj Pandey, Member Secretary and Convenor,
Joint Secretary, Min. of Corporate Affairs, Shastri Bhawan, New Delhi -110001

Copy for information to:

1. PS to Hon’ble CAM

2. PPS to Secretary, CA

3. PPS to Additional Secretary

4. JS(K)

5. JS(G)

6. Executive Director, IBBI with the request to provide secretarial assistance to the said Committee.

(Tharvinder Singh)
Under Secretary to the Government of India
Tele: 011-23389782.

source-  https://ibbi.gov.in/uploads/whatsnew/b1a636a8749f824ae463a47fd58ffbdf.pdfi