New Delhi, August 28, 2019: The Insolvency and Bankruptcy Board of India (IBBI) has registered Corporate Valuation Services Pvt. Ltd. as the 6th registered Valuer Entity in India to aid in professional valuation of assets that is needed for facilitation of variety of transactions today.
Valuation is evolving in India and the professional judgment of a valuer is thus critical in any valuation exercise. With effect from February 1, 2019, all valuations required under the Companies Act 2013 and the Insolvency and Bankruptcy Code (IBC) 2016 are conducted through registered valuers. There are currently only 7 registered valuers entity and approximately 2200 registered individual valuers in the country.
Section 247 of the Companies Act, 2013 read with Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) brought the concept of registered valuers to regulate the practice of valuation of property, stocks, shares, debentures, securities or goodwill or any other assets or net worth of a company or its liabilities in India and to standardize the practice of valuation in line with international standards leading to transparency and better governance.
Corporate Valuation Services Pvt. Ltd. is a group company of Corporate Professionals Group. Corporate Professionals has a team of valuation experts who have an impeccable track record of executing more than 1000 valuations worth $25 bn across 25 industries. Corporate Professionals now covers full spectrum of valuation services under all the three Asset classes, viz. Securities or Financial Assets; Plant & Machinery and Land & Building.
Corporate Comm India (CCI Newswire)
