The Insolvency and Bankruptcy Board of India (IBBI) today said it has recognised two registered valuers' organisations.
The entities are -- Institution of Estate Managers and Appraisers in the Asset Class of Land and Building; and IOV Registered Valuers Foundation, according to a release issued by the IBBI.
The latter is for the asset classes of land and building, plant and machinery, and securities or financial assets.
"These registered valuers organisations shall conduct educational courses in valuation, grant membership and certificate of practice to individuals, conduct training for its members and lay down and enforce the code of conduct for the registered valuers, who are its members.
The IBBI is implementing the Insolvency and Bankruptcy Code (IBC), wherein registered valuers have a key role to play in terms of assessing the value of assets.
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