ELIGIBILITY NORMS FOR A PARTNERSHIP ENTITY OR COMPANY

ELIGIBILITY NORMS FOR A PARTNERSHIP ENTITY OR COMPANY :

FAQ- For Partnership Entities / Companies

 1. What are the eligibility norms for a Partnership entity or company to be registered as a valuer?
Ans. The eligibility norms for a partnership entity or company to be registered as a  valuer is stated under Rule 3(2) of the Companies (Registered Valuers and Valuation) Rules, 2017.

2.  Can a partnership entity or a company rendering any kind of services be registered as a valuer?
Ans.     A partnership entity or a company can be registered as valuer if they have been set up with the objects of rendering professional or financial services including valuation services. In case of Company, it should not be a subsidiary, joint venture or associate of another company or body corporate.

3. Are all partners or directors required to have passed the valuation examination for a partnership firm or a company to be eligible for registration as a valuer?
Ans.    Yes, all partners or directors should have passed the valuation examination    under rule 5 within three years preceding the date of making an application for registration under rule 6.

4.  How many partners or directors need to be registered valuers for a partnership firm or a company to be eligible for registration as a valuer?
Ans. Three or all the partners or directors, whichever is lower, of the partnership firm or company, as the case may be, need to be registered valuers with atleast one of the partner or director being a registered valuer for the same asset class for which registration is being sought by the partnership firm or company.

5.  If a partnership firm or a company has partners or directors who are registered valuers in the asset class of ‘Plant and machinery’, can the firm or company be registered as a register valuer in the asset class of ‘Land and Building’?
Ans. No, a partnership firm or a company needs to have at-least one partner in the    asset class ‘Land and Building’ to be granted registration as a registered valuer in the asset class of ‘Land and Building’.

6.  Can an unregistered firm be registered as a valuer?
Ans.  No. Only a partnership entity registered under the India Partnership Act, 1932 or a limited liability partnership registered under the Limited Liability Partnership Act, 2008 can be registered as a Valuer.

7.   Can a partnership entity or company be registered for more than one asset class?
Ans. Yes, subject to meeting the conditions stated for the asset class for which registration is being sought by the partnership firm or company.

8. Can the application for registration of a partnership entity or company be sent directly to the Authority for registration?
Ans. No, application (Form B along with Addendum to Form B) of a partnership entity or company must be routed through the RVO along with the recommendation of the RVO recognised for the asset class for which registration is being sought.



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