A. About ICAI Registered Valuers Organisation
(1.) What is ICAI Registered Valuers Organization (RVO)
The ICAI Registered Valuers Organisation (RVO) is a Section 8 Company formed by the Institute of Chartered Accountants of India (ICAI) to enroll and regulate Registered Valuers as its members in accordance with the Companies (Registered Valuers and Valuation) Rules, 2017 and matters incidental thereto.

(2.) Who has recognized ICAI Registered Valuers Organization (RVO) and for which class?
ICAI Registered Valuers Organisation has been recognized as a Registered Valuer Organisation for the Asset Class “Securities or Financial Assets” by the Insolvency and Bankruptcy Board of India (IBBI), which has been specified as the ‘Authority’ by the Central Government under Section 458 of the Companies Act, 2013.

(3.) What is the objective of the ICAI Registered Valuers Organization (RVO)?
The primary objective of the Company is to enroll, educate and train members to enable them to carry out activities for the effective valuation procedures and methods, develop the profession of Registered Valuers, promote continuous professional development of valuation professionals, establish and promote high standards of practice and professional conduct.

B. Compliance with Valuation Standards
(4.) Whether a valuer is required to comply with valuation standards while conducting a valuation?
As per Rule 8 of Companies (Registered Valuers and Valuation) Rules, 2017, the Registered Valuer shall, while conducting a valuation, comply with the valuation standards as notified or modified under rule 18. Provided that until the valuation standards are notified or modified by the Central Government, a valuer shall make valuations as per-(a) internationally accepted valuation standards; (b) valuation standards adopted by any Registered Valuers Organisation.

(5.)Whether there are any Indian valuation standards available?
The Institute of Chartered Accountants of India has issued the ICAI Valuation Standards 2018 to ensure the consistent, uniform and transparent valuation policies for the member undertaking the Valuation Assignments. With a vision to promote best practices in this niche area of practice, the Standards lay down a framework for the Chartered Accountants to ensure uniformity in approach and quality of valuation output.

The Valuation Standards have been issued by the Institute of Chartered Accountants of India to set up concepts, principles and procedures which are generally accepted internationally having regard to legal framework and practices prevalent in India.

These Standards are applicable for all valuation engagements on mandatory basis for Chartered Accountants undertaking valuation engagements under the Companies Act 2013. In respect of Valuation engagements under other Statutes like Income Tax, SEBI, FEMA etc, it will be on recommendatory basis for the members of the Institute. These Valuation Standards are effective for the valuation reports issued on or after 1st July, 2018.

These Standards come as ICAI’s consistent drive to guide its members for ensuring high quality work and standards. Accordingly, ICAI Valuation Standards, 2018 are applicable on recommendatory basis for all the valuation engagements undertaken by members of ICAI under various laws.

In this regard, all the members of the Institute are advised to follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and transparency.

The list of Valuation Standards issued by the Institute of Chartered Accountants of India are as follows:

S.No Valuation Standard Number Name of Valuation Standard
1 ICAI- Valuation Standard- 101 Definitions
2 ICAI- Valuation Standard- 102 Valuation Bases
3 ICAI- Valuation Standard- 103 Valuation Approaches and Methods
4 ICAI- Valuation Standard- 201 Scope of work, Analyses and Evaluation
5 ICAI- Valuation Standard- 202 Reporting and Documentation
6 ICAI- Valuation Standard- 301 Business Valuation
7 ICAI- Valuation Standard- 302 Intangible Assets
8 ICAI- Valuation Standard- 303 Financial Instruments

(6.) Whether ICAI Registered Valuers Organisation has adopted any valuation standards available?

Yes, the abovementioned Valuation Standards issued by the Institute of Chartered Accountants of India have been adopted by the ICAI RVO.


(7.) Whether a valuer is required to comply with the valuation standards adopted and issued by ICAI RVO?

Yes, as per Rule 8 of Companies (Registered Valuers and Valuation) Rules, 2017, the Registered Valuer shall, while conducting a valuation, comply with the valuation standards as notified or modified under rule 18 of the said Rules.


(C. Eligibility to register as a Registered Valuer
(8.) What are the qualifications and experience required to register as a Registered Valuer for the asset class ‘Securities or Financial Assets’?

As per the Annexure IV of the Companies (Registered Valuers and Valuation) Rules, 2017, an individual shall have the following qualifications and experience to be eligible for registration as Registered Valuer under rule 4, namely:

(I.) Member of Institute of Chartered Accountants of India, Member of Institute of Company Secretaries of India, Member of the Institute of Cost Accountants of India, Master of Business Administration or Post Graduate Diploma in Business Management (specialisation in finance) with minimum 3 years of post qualification experience in the specified discipline;

(II.) Post-Graduate in Finance with minimum 3 years of experience in the specified discipline thereafter;

Note:- The eligibility qualification means qualification obtained from a recognised Indian University or equivalent whether in India or abroad.


(9.)  What are the qualifications and experience required to register as a Registered Valuer for the asset class “Land and Building”?

As per the Annexure IV of the Companies (Registered Valuers and Valuation) Rules, 2017, an individual shall have the following qualifications and experience to be eligible for registration as Registered Valuer under rule 4, namely:


(I.)  Graduate in Civil Engineering, Architecture, or Town Planning or equivalent with minimum 5 years of post-qualification experience in the specified discipline; or

(II.) Post Graduate on above courses and also in valuation of land and building or Real Estate Valuation (a two-year full time post-graduation course) with minimum 3 years of experience in the specified discipline thereafter;


(10.)  What are the qualifications and experience required to register as a Registered Valuer for the asset class “Plant and Machinery”?

As per the Annexure IV of the Companies (Registered Valuers and Valuation) Rules, 2017, an individual shall have the following qualifications and experience to be eligible for registration as Registered Valuer under rule 4, namely:


(I.) Graduate in Mechanical, Electrical, Electronic and Communication, Electronic and Instrumentation, Production, Chemical, Textiles, Leather, Metallurgy, or Aeronautical Engineering, or Graduate in Valuation of Plant and Machinery or equivalent with minimum 5 years of post-qualification experience in the specified discipline; or

(II.)  Post Graduate on above courses with minimum 3 years of experience in the specified discipline thereafter

Note: The eligibility qualification means qualification obtained from a recognised Indian University or equivalent whether in India or abroad.


11.)  Who is eligible to be a Registered Valuer?
I.)  A person shall be eligible to be Registered Valuer, if he-

(i.) is a valuer member of a Registered Valuers Organisation; Explanation: For the purposes of this clause, “a valuer member” is a member of a Registered Valuers Organisation who possesses the requisite educational qualifications and experience for being registered as a valuer;

(ii.)  is recommended by the Registered Valuers Organisation of which he is a valuer member for registration as a valuer;

(iii.)  has passed the Valuation Examination under rule 5 within three years preceding the date of making an application for registration under rule 6;

(iv.)  possesses the qualifications and experience as specified in rule 4;

(v.)  is not a minor;

(vi.)  has not been declared to be of unsound mind;

(vii.)  is not an undischarged bankrupt, or has not applied to be adjudicated as a bankrupt;

(viii.)  is a person resident in India; Explanation: For the purposes of these rules ‘person resident in India’ shall have the same meaning as defined in clause (v) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999) as far as it is applicable to an individual;

(ix.)  has not been convicted by any competent court for an offence punishable with imprisonment for a term exceeding six months or for an offence involving moral turpitude, and a period of five years has not elapsed from the date of expiry of the sentence: Provided that if a person has been convicted of any offence and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be registered;

(x.)  has not been levied a penalty under section 271J of Income-tax Act, 1961 (43 of 1961) and time limit for filing appeal before Commissioner of Income-tax (Appeals) or Income-tax Appellate Tribunal, as the case may be has expired, or such penalty has been confirmed by Income-tax Appellate Tribunal, and five years have not elapsed after levy of such penalty; and

(xi.)  is a fit and proper person: Explanation: For determining whether an individual is a fit and proper person under these rules, the authority may take account of any relevant consideration, including but not limited to the following criteria-

(a)  integrity, reputation and character,

(b)  absence of convictions and restraint orders, and

(c)  competence and financial solvency.


(II.)  No partnership entity or company shall be eligible to be a registered valuer if:

(i.)  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;

(ii.)  it is undergoing an insolvency resolution or is an undischarged bankrupt;

(iii.)  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) of Rule 3;

(iv.)  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

(v.)  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.

(vi.)  It is not a member of a Registered Valuer Organisation


(12.)  What are the other requirements to register as a Registered Valuer?

Subject to meeting other requirements, an individual is eligible to be a registered valuer, if he

(i.) is a fit and proper person

(ii.) has the necessary qualification and experience,

(iii.) is a valuer member of a RVO

(iv.) has completed a recognised educational course as member of a RVO

(v.) has passed the valuation examination conducted by the IBBI, and

(vi.) is recommended by the RVO for registration as a valuer


(C I) Secueittes Or Financial Assets
(13.)  I am a graduate with 5 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘securities or financial assets’ with ICAI RVO?

No


(14.) I am an MBA with specialization in Finance with 2 years and 11 months work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Securities or Financial Assets’ with ICAI RVO?

You are eligible to register as a Registered Valuer only after possessing at least 3 years of post-qualification experience.


(15.)  I am an MBA with specialization in Finance having 4 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Securities or Financial Assets’ with ICAI RVO?

Yes


(16.)  I am an MBA with specialization in Marketing having 6 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Securities or Financial Assets’ with ICAI RVO?

No


(17.)  I am a Chartered Accountant having 3 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Securities or Financial Assets’ with ICAI RVO?

Yes


(18.)  I am a Chartered Accountant having 6 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Securities or Financial Assets’ with ICAI RVO?

Yes

(C II) Land And Building

(19.)  I am a Post Graduate in Civil Engineering with 2 years and 11 months work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Land and Building’ with ICAI RVO?

You are eligible to register as a Registered Valuer only after possessing at least 3 years of post-qualification experience.


(20.)  I am a Post Graduate in Town Planning having 4 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Land and Building’ with ICAI RVO?

Yes


(21.)  I am a Post Graduate in Marketing having 6 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Land and Building’ with ICAI RVO?

No


(22.)  I am a Graduate in Civil Engineering having 5 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Land and Building’ with ICAI RVO?

Yes

(C III) Plant And Machinery

(23.)  I am a graduate with 5 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Plant and Machinery’ with ICAI RVO?

Yes


(24.)  I am a Postgraduate in Electronic and Communication with 2 years and 11 months’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Plant and Machinery’ with ICAI RVO?

You are eligible to register as a Registered Valuer only after possessing at least 3 years of post-qualification experience.


(25.)  I am a Postgraduate in Electronic and Communication having 4 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Plant and Machinery’ with ICAI RVO?

Yes


(26.)  I am a Postgraduate in Marketing having 6 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Plant and Machinery’ with ICAI RVO?

No


(27.)  I am a Graduate in Electronic and Instrumentation having 5 years’ work experience. Whether I am eligible to register as a Registered Valuer under the asset class ‘Plant & Machinery’ with ICAI RVO?

Yes


(28.)  Whether I need to enroll as a member of RVO before undertaking Educational Course?

Yes


(29.)  Whether a person in employment can become a Registered Valuer?

No


(D) Primary Membership And Educational Course

(30.)  Whether an individual possessing qualification and experience as per Rule 4 is required to register with RVO?

Yes, an individual shall enroll with the RVO as a primary member


(31.)  Whether it is mandatory to undertake Educational Course conducted by an RVO?

Yes, as per Rule 5 (1) of the Companies (Registered Valuers and Valuation) Rule, 2017, it is mandatory to undertake Educational Course in the specified class.


(32.)  How many hours of Educational Course is mandatory?

50-hour Educational Course is mandatory.


(33.)  What is the process to be followed to become a valuer member?

Step 1: Check the eligibility criteria to write the Valuation Examination for the different asset classes (eligibility requirements have been prescribed in rule 3 and qualification and experience prescribed in rule 4 of the Companies (Registered Valuers and Valuation) Rules, 2017).


Step 2: Seek Primary Membership with a Registered Valuer Organisation (RVO) recognized by the Authority i.e. the Insolvency and Bankruptcy Board of India (IBBI)


Step 3: Undergo a mandatory 50-hour Educational Course conducted by RVO


Step 4: Enrol for Valuation Examination in specified asset class.


Step 5: Receive a pass certificate after passing the Valuation Examination.


Step 6: Valuer member may enroll with RVO and make an application to the Authority in Form A of the Annexure II of the Companies (Registered Valuers and Valuation) Rules, 2017.


(34.)  Whether a person in employment can undertake Educational Course?

Yes


(35.)  Whether a person in employment can take the Valuation Examination to become a Registered Valuer?

Yes


(36.)  What if I missed any session of the 50-hour educational course?

In case you missed any session, then you have to attend that session in a subsequent batch. After that only the certificate of Participation will be issued.


(37.)  If in case I missed any session of the 50-hour educational course, will recordings of the same be provided by ICAI RVO?

Recordings for the online batch of Educational Course are provided to the participants of the respective batch. However, the missed sessions, if any, have to be completed by the concerned member in a subsequent batch.


(38.)  What is the registration process to be followed to get primary membership and educational course?

At first an announcement regarding the launch of upcoming batch of educational course by ICAI RVO will be hosted on its website https://icairvo.in//securities-or-financial-asset.html


Process for Registration:

Any eligible participant may create his account on ICAI RVO Member's portal https://icairvo.in/Registration/Rlogin.aspx and fill in all the details and upload relevant attachments. List of documents to be uploaded.


After filling the Form, you can pay Primary Membership Fee (please note that currently the payment link is activated only when registrations for Educational Course Batch are open). After paying the Primary Membership Fee, you can enrol for Educational Course by clicking on ‘Course Enrolment New Enrolment’ and make the fee payment (subject to availability of seat). In case of any technical difficulty during registration process, you may write to icairvo.techsupport@icai.in along with the screen shot of the error or call at 0120-2975275/6/7/8 for assistance

Fees Table

Fee Details:

Fee Type Asset Class Fee Total Fee (incl. 18% GST)
Membership Fee First Asset Class 5,000/- 5,900/-
Additional Second Asset Class 4,000/- 4,720/-
Additional Third Asset Class 3,500/- 4,130/-
Educational Course Fee (Physical Mode) First Asset Class 25,000/- 29,500/-
Additional Second Asset Class 22,500/- 26,550/-
Additional Third Asset Class 21,250/- 25,075/-
Educational Course Fee (Online Mode) First Asset Class 15,000/- 17,700/-
Additional Second Asset Class 12,750/- 15,045/-
Additional Third Asset Class 12,000/- 14,160/-

*For members who have participated/passed the Certificate Course on Valuation conducted by ICAI, Fee for Educational Course (Physical Batch) shall be: ₹20,000 plus GST@18% = ₹23,600


(39.)  Whether the primary membership fee is refundable?

No


(40.)  Whether the Educational Course fee is refundable?
S. No. Fee Type Refundable/Non-Refundable
1. Educational Course Fee (Physical Batch) Refundable, if informed 48 hours before the commencement of the Course
2. Educational Course Fee (Online Batch) Refundable, if informed 24 hours before the commencement of the Course

In case, the participant does not inform within the timelines specified above, an amount of ₹2000 will be deducted from the fees paid/deposited. The amount of GST will not be refunded, in case the same is already deposited with the Government.


(41.)  Is there any limit for attending 50-hour Educational Course after payment of the course fee?

Yes, the candidate must attend the 50-hour Educational Course within one year from the date of payment of course fees.


(42.)  If I am a partner in a CA firm and my firm bears the expense of the 50-hour Educational Course taken by me, then is it possible that the GST invoice can be issued in the name of the firm/company?

No, the same can only be issued in the individual’s name as the individual will become the Registered Valuer in his/her own individual capacity and he/she cannot take the valuation assignments on behalf of his/her CA firm. However, the invoice can be issued in the name of firm, only if the firm is already registered with RVO as an RVE.


(E) Valuation Examination To Become A Registered Valuer

(43.)  What is Valuation Examination?

• Valuation Examination is conducted to test the knowledge, practical skills and ethics of individuals in respect of valuation.
• A person who passes the Valuation Examination shall receive an acknowledgement of passing the examination.
• A person may appear for the Valuation Examination any number of times, however after giving a cooling period of 2 months between two consecutive examination.


(44.)  Where can I get the detailed syllabus for the educational course for the asset class ‘Securities or Financial Assets’?

For detailed syllabus for the Educational Course of ICAI Registered Valuers Organisation, please visit: https://icairvo.in//syllabus.html


(45.)  Where can I get the detailed syllabus for the educational course for the asset class ‘Land and Building’?

For detailed syllabus for the Educational Course for the asset class ‘Land and Building’, please visit https://icairvo.in//documents/LB%20Syllabus%20wef%2001072022.pdf


(46.)  Where can I get the detailed syllabus for the educational course for the asset class ‘Plant and Machinery?

For detailed syllabus for the Educational Course for the asset class ‘Land and Building’, please visit https://icairvo.in//documents/LB%20Syllabus%20wef%2001072022.pdf


(47.)  Where and how can I register for the IBBI-Valuation Examination?

You may like to go through the Step-By-Step tutorial for registration and enrolment before proceeding for registration for the IBBI-Valuation Examination. There are three stages in the process and kindly follow instructions given on the screen at every stage:


  Stage I: Registration with the system

You may like to go through the Please visit https://ibbi.gov.in/en/examination/view-valuation-exam/19 click on the relevant asset class, and Click on ‘Register/Enroll for Exam’ button. You will be taken to NISM Certifications Registration Portal. You are required to upload the following documents in jpeg/jpg format:

i. Copy of PAN Card,
ii. Photograph
iii. Proof of address

This is a one-time registration, and you will be provided with log-in credentials i.e., user ID and password. Thereafter, access the examination system with these credentials and manage all future activities like enrolment, slot selection, fee payment etc.Every candidate is requested to create a single user ID only and use the same for all purposes.


  Stage II: Enrolment and slot selection

In order to enroll for a particular exam and time slot visit Please visit https://ibbi.gov.in/en/examination/view-valuation-exam/19 select relevant asset class, click on “Register/Enroll Online” link and access the system with user ID created in Stage I to choose the relevant asset class, examination center, day and the time when you would like to take the examination. Candidates will have to provide the details of RVO membership number, PDF copy of training completion certificate, GST number, if any, during the enrolment process. Examination fee of ₹5900 online is required to be paid to complete the enrolment. Payment can be made using Credit Card/Debit Card/Net Banking. Once enrolment is complete, you can download your Admit Card for the examination.


  Stage III: Taking the examination

Please carry a Printout of the Admit Card, original PAN Card/Aadhar Card/Passport and arrive 30 minutes before the scheduled time at the examination center. Please note that without the Admit Card and the Original Photo Identity proof (as mentioned above), candidates shall not be permitted to appear for the Examination. If you do not pass the examination and wish to take the examination again, you need to repeat stage II and stage III, as many times as you wish.


(48.)  Is the valuation exam mandated under any law and for what purpose?

Yes. The Companies (Registered Valuers and Valuation) Rules, 2017 was notified on October 18, 2017. The Ministry of Corporate Affairs (MCA) has delegated the powers and functions pertaining to Registered Valuers, as mentioned in Section 247 of the Companies Act, 2013, to the IBBI, vide notification dated October 23, 2017. The Valuation Examination is mandated under Section 247 read with sections 458 and 469 of the Companies Act, 2013 (18 of 2013). It is one of the mandatory conditions for registration as a Registered Valuer with IBBI.


(49.)  What is the fee payable for the examination?

The prescribed fee for Valuation Examinations w.e.f. 1st October 2022 is ₹5000 + applicable GST i.e., ₹5900 (Rupees Five Thousand and Nine Hundred only) for every enrolment. It has to be paid during enrolment and can be paid using Debit Card / Net Banking / Credit Card. The payment gateway charges, if any, shall be borne by the candidates.


(50.)  What is the format of the Valuation Examination?

The examination is based on multiple choice questions which are to be answered within time period of 2 hours. The maximum score is 100. And 60% and above is considered successful. There is a negative marking of 25% for each wrong answer.


(51.)  What is the structure of the question paper?

The question paper will have a total of 87 questions, out of which 74 questions will be of 1 mark each and 13 questions of 2 marks each. Questions include those based on case studies also. Each question paper is unique, derived by the system and hence is randomised and comprehensive in terms of coverage of the syllabus.


(52.)  Can I have an idea of the structure of the question paper before the examination?

The question paper will have a total of 87 questions, out of which 74 questions will be of 1 mark each and 13 questions of 2 marks each. Questions include those based on case studies also. Each question paper is unique, derived by the system and hence is randomised and comprehensive in terms of coverage of the syllabus.


a. A sample question paper for the asset class Securities or Financial assets is available at

https://icairvo.in//documents/SFA Sample Paper Ph 4 wef 01072022.pdf


b. A sample question paper for the asset class Land & Building assets is available at

https://icairvo.in//documents/LB Sample Paper Ph 4 wef 01072022.pdf


c. A sample question paper for the asset class ‘Plant and Machinery’ is available at

https://icairvo.in//documents/Final PM Sample paper Ph 4 wef 01072022.pdf


(53.)  When are the examinations held?

The examinations are available on all days. To check the availability of date and time at the examination center of your choice, please visit https://ibbi.gov.in/en/examination/view-valuation-exam/19


(54.)  How many times can I take the examination?

You can appear for the examination any number of times till you clear the exam. Please note that w.e.f. 18th April 2024, the cooling-off period between two consecutive attempts in Valuation Examination has been reduced from 2 months to 21 days in accordance with the IBBI Circular No. IBBI/EXAM/63/2024 dated 18th January 2024.


(55.)  How do I prepare for the examination?

The examination is based on the syllabus notified by the IBBI on its website. Please visit https://ibbi.gov.in/en/examination/viewlist/21 for Syllabus for the asset class: Securities or Financial Assets, https://ibbi.gov.in/en/examination/viewlist/19 for Syllabus for the asset class: ‘Land and Building’, https://ibbi.gov.in/en/examination/viewlist/20 for Syllabus for the asset class: ‘Plant and Machinery’. All areas of the syllabus are covered in the examination and the candidate is expected to be thorough on every part of the syllabus.

ICAI RVO also provides detailed study material and access to its online learning portal i.e. Learning Management System (LMS) to its registered members which facilitates them in the preparation for IBBI Valuation Examination.


(56.)  Can I refer books or other material during the examination?

No. It is not an open book examination.


(57.)  When will I receive the pass certificate?

Once you clear the exam by scoring 60% an acknowledgement will appear on the computer screen at the examination center. The pass certificate will be issued by the IBBI within 30 days of examination.


(58.)  Who should I contact for any clarification about the examination?

For any clarification, you may send an e-mail to NISM at certification@nism.ac.in or you may call up NISM on number +91-8080806476 (09:30 AM to 17:30 PM) (Mondays to Fridays). For contacting Valuation Examinations Division of IBBI, you may send an email to valuationexam@ibbi.gov.in.


(59.)  How long is the certificate of passing the exam valid?

The certificate is valid for three years from the date of passing the examination. Therefore, the candidate is required to get registered within 3 years with the IBBI as Registered Valuer.


(F) Registration Certificate

(60.)  What are the conditions to grant certificate of practice to a valuer to carry on the activities of a Registered Valuer?

Certificate of registration is granted by the IBBI in Form C of Annexure II of Companies (Registered Valuers and Valuation) Rules, 2017. The conditions for issuing a Certificate of Registration to Valuer are as follows:


(i) At all times possess the eligibility and qualification and experience criteria as specified under rule 3 and rule 4;
(ii) At all times comply with the provisions of the Act , these rules and the Bye-laws or internal regulations, as the case may be, of the organisation;
(iii) Shall not render in his capacity as a registered valuer, nor conduct valuation of the assets or class(es) of assets other than for which he/it has been registered by the authority;
(iv) He should take prior permission of the authority for shifting his/its membership from one registered valuers organisation to another;
(v) He should take adequate steps for redressal of grievances;
(vi) He shall maintain records of each assignment undertaken by him for at least three years from the completion of such assignment;
(vii) He should comply with the Code of Conduct (available at the link: https://icairvo.in//code-of-conduct.html of the ICAI RVO;
(viii) He should comply with such other conditions as may be imposed by the Authority.


(61.)  Who will issue the registration certificate?

The registration certificate of a Registered Valuer will be issued by IBBI.


(62.)  How much fees to be paid for registration as an individual valuer?

The applicant is required to pay the non-refundable application fees as follows:


(i)  Fees of Insolvency and Bankruptcy Board of India (IBBI)

₹5,000/- (Five Thousand only) plus GST @ 18%. i.e. ₹5900 only


(ii)  Fees to ICAI Registered Valuers Organisation (ICAI RVO)

The applicant is required to pay the non-refundable application fees as follows:


Enrolment Fee First Asset Class Rs. 2,360/- (2,000/- + 18% GST)
Additional Second Asset Class Rs. 1,770/- (1,500/- + 18% GTS)
Additional Third Asset Class Rs. 1,180/- (1,000/- + 18% GST)
Annual Membership Fee* First Asset Class Rs. 11,800/- (10,000/- + 18% GST)
Additional Second Asset Class Rs. 10,620/- (9,000/- + 18% GST)
Additional Third Asset Class Rs. 9,440/- (8,000/- + 18% GST)

*ICAI RVO charges Membership Fee at 50% of the Annual Membership Fee if the member applied for registration between 1st October – 31st March. This 50% fee is only for the year of registration.

The Fee is to be paid/remitted online to IBBI and ICAI RVO separately.


(63.)  How much fees to be paid for registration of Partnership Entity or Company?

The applicant is required to pay the non-refundable application fees as follows:


(iii.)  Fees of Insolvency and Bankruptcy Board of India (IBBI)

₹10,000/- (Ten Thousand only) plus tax


(iv)  Fees to ICAI Registered Valuers Organisation (ICAI RVO)

S. No. Fee Type Registered Valuers Entity Fee details (Fee + GST)
1. Enrolment fee (Firm) Rs. 59,000/- Rs. 50,000/- + Rs. 9,000/- GST @18%
2. Annual Membership Fee (Firm) Rs. 29,500/- Rs. 25,000/- + Rs. 4,500/- GST @18%

(64.)  What is the registration process to be followed to register as a Registered Valuer?

The process of registration as Registered Valuer is as under:


Step 1: Satisfy yourself that you meet the eligibility requirements prescribed in rule 3 and qualification and experience prescribed in rule 4 of the Rules.

Step 2: Thereafter, seek enrolment as a Primary Member of a RVO recognized by the IBBI.

Step 3: As a member of a RVO, complete the educational course recognised by the IBBI.

Step 4: Register and pass the Valuation Examination of the relevant Asset Class conducted by the IBBI. Details of the Valuation Examination are available at IBBI website (https://icairvo.in/)

Step 5: Within three years of passing the valuation examination, submit Form A available at the link: https://ibbi.gov.in/en/rvs-register/pre-registration duly filled in along with the requisite payment. Attach all the relevant documents (self-attested) while filing the form. Please ensure that size of the documents be less than 5 mb.

Step 6: Thereafter, RVO shall verify Form A and other requirements and then submit the Form A along with its recommendation for registration as a valuer to the IBBI.

Step 7: On receipt of Form A along with recommendation of the RVO, the fee and other documents, the IBBI shall process the application for registration in accordance with the Rules.


(65.)  What is the process for filing Form A to be a Registered Valuer under the Companies Act, 2013?

Please read: Step by step process for filing Form A


(66.)  What are the conditions and procedure for registration of partnership entity/LLP as a Registered Valuer Entity?

Conditions for Registration of a Partnership Entity/LLP:


1. The Partnership Entity/LLP should be constituted with the object of rendering financial services including valuation services.

2. The Partnership Entity/LLP is not undergoing an insolvency resolution nor is an undischarged bankrupt.

3. All the partners shall be eligible under clauses (c), (d), (e), (f), (g), (h), (i), (j) and (k) of sub rule (1) of Rule 3 of the Companies (Registered Valuers & Valuation) Rules, 2017.

4. Three Partners or all the partners of the Partnership Entity/LLP whichever is lower shall be the Registered Valuers.

5. At least one of the Partner shall be Registered Valuer for the asset class for the valuation of which the Partnership firm/LLP seeks to be a Registered Valuer.

6. Is a member of a Registered Valuers Organisation

For detailed procedure, kindly visit the link: Procedure for Registration as an RVE.pdf (icairvo.in)


(67.)  What is the annual membership fees structure of ICAI RVO?

For Individual:

The Registered Valuers enrolled with ICAI RVO as its member must pay an Annual Membership Fee ₹10,000/- plus GST @ 18% of ₹1,800/- i.e. ₹11,800/- for each Financial year


Please note:
Members should pay their Annual Membership Fee by 30th April of the year, to avoid incurring any penalty.
Members may pay the Annual Membership fees on or before 30th June of the year with a late fine of Rs. 500/- (Rupees Five Hundred) plus tax.
Members delaying Annual Membership fee payment beyond 30th June will be referred to the Membership Committee for necessary action as per Bye-laws.

Please visit https://icairvo.in//documents/Registered Valuer Member.pdf for complete details.



Registered Valuers Fees
For Partnership Entity/ LLP:
S. No. Fee Type Registered Valuers Entity Fee details (Fee + GST) Refundable/Non-refundable
1. Enrolment fee (Firm) Rs. 59,000 Rs. 50,000/- + Rs. 9,000/- GST @18% Non-Refundable
2. Annual Membership Fee (Firm) Rs. 29,500/- Rs. 25,000/- + Rs. 4,500/- GST @18% Non-Refundable


(68.)  How could I know that my filled in form has been uploaded correctly?

Once the form is submitted, a dialog box will appear with the message “Registration form has been successfully submitted”. Also, a PDF file would be generated and the same shall be visible on your dashboard.


(69.)  What can happen if the Authority refuses to grant certificate?

If, after considering an application made under Rule 6, the Board is of the prima facie opinion that the registration ought not to be granted, it shall communicate the reasons for forming such an opinion and give the applicant an opportunity of being heard to explain why his application should be accepted, within fifteen days of the receipt of the communication from the IBBI to enable it to form a final opinion.


(70.)  In what period Authority shall communicate it’s decision about it’s rejection or acceptance of application?

After considering the explanation, if any, given by the applicant under Rule 6(8), the Authority shall either -


(a) accept the application and grant the certificate of registration; or
(b) reject the application by an order, giving reasons thereof.


(71.)  Whether a Registered Valuer can temporarily surrender his certificate of registration?

As per Rule 9 of Chapter II of Companies (Registered Valuers and Valuation) Rules, 2017; a Registered Valuer may temporarily surrender his registration certificate of the RVO and on such surrender he must inform the IBBI. The RVO shall inform the Authority if any valuer member has temporarily surrendered his/its membership or revived his/its membership after temporary surrender, not later than seven days from approval of the application for temporary surrender or revival, as the case may be. The provision and procedure for temporary surrender of membership is available at: https://icairvo.in//documents/Provision & Procedure for Temporary Surrender of Membership.pdf


(72.)  What is the procedure for transfer of membership from one RVO to another?

For procedure for transfer of Membership, please visit the following links:
Transfer of membership before registration as Valuer with the IBBI

Transfer of membership after registration as Registered Valuer (RV) with the IBBI (both Individual and Entity)


(G) Miscellaneous

(73.)  In what circumstances, the Authority can issue show cause notice to a valuer?

As per Rule 17 (1) of Chapter IV of Companies (Registered Valuers and Valuation) Rules, 2017; Based on the findings of an inspection or investigation, or on material otherwise available on record, if the Board is of prima facie opinion that sufficient cause exists to cancel or suspend the registration of a valuer, in that case show cause shall be issued to the valuer.


(74.)  Bye-laws of ICAI RVO?

The Bye Laws of ICAI RVO are available at: https://icairvo.in//bye-laws.html


(75.)  What is the Code of Conduct for Registered Valuers?

As per Rule 7 (g) and Rule 12 (2) (d) of the Companies (Registered Valuers and Valuation) Rules, 2017, the Registered Valuers are required to follow the Code of Conduct available at: https://icairvo.in//code-of-conduct.html


(76.)  Can a Whole-Time Director be a Registered Valuer?

No.


(77.)  If I am a Whole-Time Director in a multi consultancy firm approved by ICAI, can I become Registered Valuer?

No


(78.)  Whether a Director in a family-owned company become a Registered Valuer?

No


(79.)  Whether a Director not getting salary become a Registered Valuer?

No


(80.)  What are the contact details of ICAI RVO?

Kindly reach us at: 0120-2975275-8 during working hours i.e. 09:30 AM to 06:00 PM (Monday to Friday), except closed holidays. For detailed contact list, please visit https://icairvo.in//contact-us.html