REGISTERED VALUER
IBBI proposes amendments to insolvency rules; seeks public comments
IBBI proposes amendments to enhance efficiency and reduce costs in the Insolvency Resolution Process for Corporates, seeking stakeholder inputs by July 10.
Govt invites fresh bids from asset valuers of IDBI Bank
The central government has issued a fresh Request for Proposal (RFP) for the appointment of an asset valuer for the strategic sale of IDBI Bank. The last date for submitting bids is January 5, following the cancellation of the previous bid process due to low bidder interest.
Guidelines relaxed for naming IDBI Bank valuer
ET had reported on September 7 that the government's request for proposal (RFP) to appoint an asset valuer for IDBI Bank had made it mandatory for valuers to be registered with the Insolvency and Bankruptcy Board of India (IBBI). It had also set a turnover threshold whereby the registered valuer entities should have posted annual turnover of ₹5 crore a year for three consecutive years to be eligible to apply for the assignment.
India invites bids for asset valuer for IDBI Bank
The Indian government has initiated the process of selling a majority stake in IDBI Bank by inviting bids for an asset valuer. The chosen valuer will evaluate the bank's assets and provide support during the sale. Interested parties have until October 9 to submit their bids. The Department of Investment and Public Asset Management (DIPAM) is overseeing the strategic sale, pending clearance from the Reserve Bank of India. Once clearance is obtained, due diligence will be conducted by bidders.
Govt invites bids from IBBI-registered firms for valuing RINL's assets
The Cabinet Committee of Economic Affairs (CCEA) on January 27 gave 'in-principle' approval for 100 per cent disinvestment of government stake in Rashtriya Ispat Nigam Limited (RINL), also called Visakhapatnam Steel Plant or Vizag Steel, alongwith RINL's stake in its subsidiaries/joint ventures.
Govt invites bids from asset valuers for strategic sale of FSNL
"The Department of Investment and Public Asset Management (DIPAM) requires the services of a reputed asset valuer entity — registered with the Insolvency and Bankruptcy Board of India (IBBI), to carry out the company's asset valuation...and assist the government in the process of strategic disinvestment of FSNL...till the completion of the transaction," the DIPAM said while inviting bids.
Parliament nod awaited for Valuers Bill
The Bill is in circulation to get suggestions and opinions from the stakeholders and general public after which it would be placed before both Houses of Parliament, IOV president P K Thiagarajan told reporters here.
Government mulls setting up national institute of valuers on the lines of ICAI
The valuation profession deals with valuation of various assets such as the plant and machinery or the land and buildings of a company among others. Currently the Companies (Registered Valuers and Valuation) Rules, 2017, regulates valuation procedures for the mentioned assets.
Govt mulls national institute for valuers
The Companies Act, 2013 provides a comprehensive framework for development and regulation of the profession of valuers.
IBBI working to provide accountable and competent valuers: MS Sahoo
The IBC has helped financial and operational creditors recover over Rs 68,000 crore through successful resolutions of stressed assets in 88 cases according to IBBI data.
IBBI publishes syllabus for valuer examinations from April 2019
A person seeking to become a valuer requires to clear valuation examination conducted by the IBBI.
Taxman shows up at startup valuers’ doors
Taxmen want to know how valuation was computed for businesses that often weren’t making any money.
Non-graduate CAs now eligible to become registered valuers: ICAI
A registered valuer is required to carry out valuation of assets, net worth of a firm or its liabilities as required under the Companies Act, 2013.
Only registered valuers can do valuation under IBC from February 2019
Valuation of assets is a key factor for an "informed decision making" under the Insolvency and Bankruptcy Code (IBC).
Bankruptcy: Government hints at new law for registered valuers
The insolvency professionals are very poor now. Unlike chartered accountants, company secretaries, cost accounts, who have been there for decades together, the IPs are new.
Tighter rules coming up for CAs, valuers and monitoring agencies
The proposed changes come months after PNB stunned markets after uncovering a $2 billion loan fraud.
Fraud at listed firms: Sebi to rein in erring auditors, valuers
Sebi is looking to enhance the regulatory oversight to check such frauds in future.
IBBI registration must for asset valuations under bankruptcy code
Aspirants will be required to clear the valuation examination for the three asset classes- securities or financial assets; land and building; and plant and machinery.
Government notifies rules for registered valuers
Those entities, which are already carrying out valuation activities, have time till March 31, 2018 to get registered with the specified authority.
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