New Delhi: The IOV Registered Valuers Foundation (RVF) is all set to organize the 50th Indian Valuers Congress on October 12 and 13, 2019 in Delhi. An annual event inaugurated and well attended by the fraternity of values and persons of eminence and stature at the highest level, it was last held at Hyderabad in 2018 in the month of December. The Indian Valuers Congress provides a platform for the valuers fraternity to come together, interact and exchange views in the field of valuation.
State-of-the-art lectures, invited talks, paper presentations, and industrial presentations from distinguished professionals, research scholars as well as reputed financial institutions from all over India are the hallmarks of the event, held in different cities across India. The Congress highlights the effects of taxes and the legislation on immovable and movable assets, clarifying existing ambiguities and controversies on the subject. It also inculcates a feeling of mutual affinity amongst valuers, Central / State Government Departments, financial authorities, banking sectors, chartered accountants and other intellectuals.
Counted amongst the top five valuers associations of the world, IOV is a premier organisation of more than 30,000 professionals valuing immovable property, stocks, shares, debentures, business assets including goodwill, jewellery, works of art, mines, machinery, etc. The 50-year old body assists in the formulation of ideas and spreading knowledge related to valuation, whilst guiding general public, government and semi-government bodies in adjudicating disputes related to valuation.
IOV Registered Valuers Foundation is a brainchild of the Institution of Valuers (IOV) and is a recognised Registered Valuers Organisation by the Insolvency and Bankruptcy Board of India (IBBI) as per the Companies Act. It conducts courses to certify valuation professionals in three classes of assets viz, land & building, plant & machinery and securities & financial assets. Valuers, including existing professionals & new aspirants, are required to get 50 hours mandatory training through a registered valuers organisation before passing an exam conducted by IBBI, clearing which they can get registered with IBBI and obtain a Certificate of practice in the field of Valuation under NCLT and IBC acts.
The entire process, as under companies registered valuers & Valuation Rules, 2017, under Companies Act, 2013 (18 of 2013), aims at regularizing the profession and the professionals, thereby streamlining the activities in the field of Valuation. Such events gain prominence in the sense that during the lectures, discussions and debates in the course of these events, the fraternity not only becomes aware of the latest developments but also upgrades their knowledge about the profession. The events also provide an insight into the profession for other stakeholders.
As per the Company Act, 2013, valuation can be carried out by only those professionals who have been trained by recognised bodies by the IBBI. This notification, released in 2017, was aimed at formulating ‘valuation standards’ and registering values with the IBBI-recognized organisations (RVOs), IOV-RVF being the premier among them. The move, according to experts, will boost knowledge of professionals in the industry and ultimately benefit the Indian economy.
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