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IBC Law mandates the Insolvency Professional to appoint a Registered Valuer for the valuation of the Assets
Regulation 27 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 mandate that an Insolvency Professional (IP) is required to appoint Registered Valuers for the determination of Fair Value and Liquidation value of the assets of the Corporate Debtor after initiation of CIRP by NCLT
Regulation 35 of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 mandate that in cases where Valuation of assets of the corporate debtor has not been conducted during CIRP, the liquidator shall appoint two registered valuers to determine the realizable value of the assets or businesses under clauses (a) to (f) of regulation 32 of the corporate debtor.
Regulation 26 of Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 mandate that an Insolvency Professional (IP) is required to appoint Registered Valuers for the determination of Fair Value and Liquidation value of the assets of the Corporate Debtor after initiation of FTCIRP by NCLT.
Sec 59(3)(b)(ii) of the Insolvency and Bankruptcy Code, 2016 requires Corporate Debtor, filing for voluntary liquidation, to file a report of the valuation of the assets of the company prepared by a registered valuer where the Corporate Debtor has any assets.
Regulation 30 of IBBI (Bankruptcy Process For Personal Guarantors to Corporate Debtors) Regulations, 2019 allow the bankruptcy trustee to appoint a registered valuer to value the assets which may or may not form part of the bankrupt’s estate, when he is of the opinion that it is necessary or when a resolution to that effect has been passed by the committee.
