APPLICATION FOR REGISTRATION AS REGISTERED VALUERS

APPLICATION FOR REGISTRATION AS REGISTERED VALUERS:

FAQ- FOR APPLICATION FOR REGISTRATION AS REGISTERED VALUERS:

1. Is there a standard format for an application for registration as Registered Valuer?

Ans. Yes. Individual Applicants need to submit the application as per Form-A of Annexure II of the Companies (Registered Valuers and Valuation) Rules, 2017. A Partnership Entity or Company needs to submit the application as per Form-B of Annexure II of the Companies (Registered Valuers and Valuation) Rules, 2017.

2.Within how many days of submission of application, registration is granted?

Ans. Subject to fulfilment of terms and conditions, registration is granted to an   applicant within 60 days of receipt of application excluding time given to the Applicant for presenting additional documents, information or clarification, or appearing in person, as the case may be.

3.  In case there is an observation / query with regard to an application, in how many days should the query be addressed by the applicant?

Ans: Within 21 days from the date of query.

4.  What happens if the query is not addressed within 21 days? 

Ans.: The application is liable to be rejected.

5.  If rejected in the absence of submission of clarification / information within 21 days, can fresh application be made?

Ans. Yes. However, the application will be treated as a fresh application.

6.  Is there a fee required to be paid along with application form?

Ans.  Yes, a non-refundable application fees of Rs.5,000/- (plus applicable tax) is  payable by Individual Applicants while the same shall be Rs.10,000/- (plus applicable tax) for Partnership Entity or Companies.

7.  What are the modes of payment of application fees?

Ans. Upon approval of Form-A by RVO (with whom the Applicant is enrolled as a Valuer Member), a payment link is generated through which online payment can be made.

8.  Can application fees be paid by Demand Draft or Cheque or in Cash? 

Ans.   No, payment has to be made online.

9.  What is the Process flow for submitting an application?

Ans. The process flow for submitting an application is as under:

STEP	Activity	Activity to be    Performed By	Details
1	Online submission of Form-A	Applicant	Applicant Fills Form-A online and uploads necessary documents including "Addendum to Form A".  Physical application should not be sent to RVO at this stage and applicant must ensure that all relevant documents are uploaded since RVO will only have access to online application and uploads.  RVO to scrutinise Form-A online in light of documentary proofs enclosed therein.
2	Online scrutiny of Application	RVO	Documentary Proof enclosed must inter alia have the following:  A1. PAN Card as Proof of Identity.  A2. Proof of Address.  A3. Affidavit for Name mismatch (if applicable).  B. Final Degree Certificate/ Certificate of Practice / Certificate of Membership (as applicable)  C1. Proof of 50 hours training  C2. Proof of Passing of Exam (BSE confirmation or Examination passing Certificate).  D.  Proof of Experience clearly establishing length of experience and area of experience (specified discipline to be verified). E.  Photo of candidate to be uploaded.  F.  Income Tax Return for previous 3 Assessment Years including the Current year (PAN Number should be verified). RVO to verify that: the form is filled in the appropriate manner, inter alia including Name (as per PAN Card), Address (no repetition), Correct Asset Class etc; the documents are uploaded in the appropriate manner (ensure that the same are uploaded in the above stated order only. No additional document should be uploaded).  RVO to approve Form-A online if the same is in order or otherwise convey its observation to the applicant. Non- compliant application must be corrected / rejected.
3	Payment of Fees	Applicant	Upon online approval of Form-A by RVO, payment link is received by applicant.  Applicant makes the payment. Applicant to send the following documents to RVO in physical form: (i)  physical Form-A; (ii)  Addendum to Form A and;  (iii)  Payment proof to RVO. (Form A printout to be taken from the portal and should not be typed / handwritten.)
4	Final Verification of Form A	RVO	RVO to verify Physical Form A and Addendum to Form A received from applicant and confirm copy of the same are uploaded on the portal.  RVO to verify proof of Payment forwarded by applicant.  Upon being satisfied, RVO to sign the Physical Form A.  RVO to send scan copy of signed application (duly signed by RVO and Applicant) to the applicant for uploading on portal.  The scan must include the following:  a.  Physical Form A duly signed (with seal affixed) by RVO;  b.  Addendum to Form-A and; c.  Proof of Payment of Fees.
5	Upload of Form A	Applicant	Upon receipt of scan from RVO, applicant to upload the same on portal and submit.
6	Final Approval of Form A	RVO	RVO to approve application online and send physical application to IBBI. The application must include the following:  a.  Checklist for Form-A (shared with RVOs);  b.  Physical Form A duly signed (with seal affixed) by RVO and;  c.  Addendum to Form-A.  d.  Proof of Payment of Fees.  Please ensure that all documents listed at Step 3 above form part of upload available online.