Important Decisions taken in Meetings with IBBI:-
1.Security Audit: RVOs shall get the security audit conducted by an accredited agency and submit report of the same to the Board.
2.Determine Quality of Valuation Reports: RVOs are required to conduct peer review of valuation reports for this financial year i.e. 2020-2021 which would be followed by a workshop to discuss the findings. RVOs shall analyze the judgments of adjudicating authority, or any other judicial forum wherein adverse remarks have been made against the valuation report or valuer members
3.Valuations Job under Companies Act, 2013/ Insolvency Bankruptcy Code: Registered Valuers are requested not to undertake any Valuation Job under Companies Act, 2013/ Insolvency Bankruptcy Code from any person who is not IP/RVE( Vide Circular no. IBBI / RV/019/2018 dated 17.10.18 that provides IPs and RVE can only appoint Registered Valuers after 31.01.19 to conduct the Valuation job under the IBBI Code). However, being a Registered Valuer, one can undertake the Valuation job relating to Assets or Liabilities of a Company directly from the Company itself.
4. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
New Delhi, the 29th March, 2022 AMENDMENT TO THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (ONLINE DELIVERY OF EDUCATIONAL COURSE AND CONTINUING PROFESSIONAL EDUCATION BY INSOLVENCY PROFESSIONAL AGENCIES AND REGISTERED VALUERS ORGANISATIONS) GUIDELINES, 2020. In exercise of powers under section 196(1)(aa) of the Code read with regulation 5(b) and clause (ba) of sub-regulation (2) of regulation 7 of the IBBI (Insolvency Professionals) Regulations, 2016 and clauses (a) and (e) of sub-rule (2) of rule 12 of the Companies (Registered Valuers and Valuation) Rules, 2017, the Insolvency and Bankruptcy Board of India hereby extends the validity of the Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020 till 30th September, 2022.