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ARTICLE · 17 NOVEMBER 2017

Provisions Relating To Registered Valuers Notified!

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There are various provisions in the Act, which require valuation by a registered valuer including issuance of shares on preferential basis, compromise and arrangements between company and its creditors or members, minority shareholding buy-out, liquidation, etc.

IndiaCorporate/Commercial Law
Deepak Jodhani
Deepak Jodhani
Harsh Khemka
Harsh Khemka
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Introduction and Background

On 18 October 2017, the Ministry of Corporate Affairs (MCA) notified:

  1. Section 247 of the Companies Act 2013 (Act), which deals with valuation by registered valuers; and
  2. the Companies (Registered Valuers and Valuation) Rules 2017 (Rules).

This is an important development, as Section 247 provides that wherever under the Act, a valuation is required to be conducted in respect of any asset (including property, shares, debentures, securities or goodwill), or net worth of a company or its liabilities, it shall be done by a registered valuer, in the manner prescribed under the Rules.

There are various provisions in the Act, which require valuation by a registered valuer including issuance of shares on preferential basis, compromise and arrangements between company and its creditors or members, minority shareholding buy-out, liquidation, etc. Until Section 247 was notified, valuations could have been conducted by any independent

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