ELIGIBILITY FOR REGISTERED PLANT AND MACHINERY VALUERS

ELIGIBILITY FOR REGISTERED PLANT AND MACHINERY VALUERS: 


 Registration of valuers is done as per Companies Rule, 2017:

  Rule-3 Eligibility for Registered Valuers:

 A "person" shall be eligible to be a Registered Valuer if he-

  1. is a valuer member of a RVO (Registered Valuers Organisations)
  2. possesses the qualification and experience specified in rule 4
  3. has passed the Valuation Examination under rule 5 within three years preceding.
  4. the date of making  an application for registration under rule 6
  5. is a person resident in India
  6. is a fit and proper person with required educational qualification.
No partnership entity or company shall be eligible to be registered valuer if:-

  1. it has been set up for objects other than for rendering professional or financial services, including valuation services and that in the case of a company , it is not a subsidiary, joint venture or associate of another company or body corporate.
  2. it is undergoing an insolvency resolution or is undischarged bankrupt.
  3. all the partners or directors, as the case may be, are not ineligible under clauses (c), (d), (e), (g), (h), (i), (j) and (k) of sub rule (1).
  4. three or all the partners or directors, whichever is lower,of the partnership entity or company,as the case may be, are not registered valuers or
  5. none of its partners or directors, as the case may be, is a registered valuer for the asset class, for the valuation of which it seeks to be a registered valuer.

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