No partnership entity or company shall be eligible to be a registered valuer if-
- a. 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 a subsidiary, joint venture, or associate of another company or body corporate;
- b. It is undergoing an insolvency resolution or is an undischarged bankrupt;
- c. All the partners or directors, as the case may be, are not eligible under clauses (c), (d), (e), (f), (g), (h), (i), (j), and (k) of sub-rule (1);
- d. 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;
- e. 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;
- f. It is not a member of a registered valuer’s organization:
- Provided that it shall not be a member of more than one such registered valuers organization at a given point in time;
- Provided further that the partnership entity or company, already registered as valuers, on the date of commencement of the Companies (Registered Valuers and Valuation) Amendment Rules, 2022, shall comply within six months of such commencement with the conditions specified under this clause.