<h1>Section 247 of Companies Act 2013 Enforced: New Rules for Registered Valuers and Valuation Start October 18, 2017.</h1> The Ministry of Corporate Affairs has commenced Section 247 of the Companies Act, 2013, effective October 18, 2017, concerning valuation by registered valuers. Simultaneously, the Companies (Registered Valuers and Valuation) Rules, 2017, have been issued, detailing the registration process for valuers, including eligibility, qualifications, and experience requirements. Valuers must register with a specified authority and join recognized Registered Valuers Organisations (RVOs). The Rules outline governance structures for RVOs, valuation standards, and educational courses. A transition period until March 31, 2018, allows current valuers to continue services without registration. The Insolvency and Bankruptcy Board of India is proposed as the authority.