DRAFT VALUERS BILL 2020- A NEW ERA OF VALUATION-LAW DECODED-BY CS ROHIT KUMAR
WHY NEED ARISE OF NEW PROFESSIONAL, A VALUER? As of today, there is neither standardised formula for valuing assets of corporates nor proper regulatory framework governing the valuation professionals which are very important to unlock the real value of assets. Currently, there is an ad-hoc framework for valuation professionals and they are basically governed under Companies Act, and IBBI is empowered to implement regime of registered valuers. For long, such valuation services are provided by CA & Merchant Bankers under various legislations such as Companies Act, Income Tax Laws, SEBI, FEMA etc in a non-standardised manner involving high degree of subjectivity of valuer which most of the time resulted into mis-matching between reality & excel figures . Moreover, a valuation can not be a part-time services for CS or CA. This requires altogether different set of skills which are beyond Accounting, Tax, and Excel Sheets. Therefore, the panel headed by IBBI Chairperson M S Sahoo,