The Ministry of Corporate Affairs notified the provision relating to registered valuers (section 247) in the Companies Act, 2013 (CA 2013) on 18 October. Section 247 states that any valuation of an asset of a company (including property, stocks, shares, debentures, securities, goodwill), or net worth of a company, is required to be made by a person who is registered as a valuer, and has requisite qualifications and experience in such capacity. Such a valuer may be appointed by the audit committee or board of directors of the company.
The valuation is to be done in accordance with the Companies (Registered Valuers and Valuation) Rules, 2017. The following are some of the important provisions:
Eligibility criteria. The eligibility criteria include having the qualifications prescribed, being a member of, and being recommended by a registered valuer’s organization, is of sound mind, not being a minor/adjudged bankrupt, being a resident of India, not having been punished with imprisonment for a prescribed minimum duration, being a fit & proper person, etc. Similar criteria have been prescribed for recognition of registered valuers organizations.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bengaluru, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
