Government of India
Ministry of Corporate Affairs
(PI Section)

Invitation for Public Comments on Draft Valuers Bill, 2020

 

Ministry of Corporate Affairs had constituted a Committee of Experts (CoE) under the Chairpersonship of Shri M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) on 30th August 2019 to examine the need for an institutional framework for regulation and development of Valuation Profession. Based on comprehensive study and analysis of all relevant issues and taking the inputs of key stakeholders, the Committee has submitted its report to the Government of India on 31st March 2020 recommending to establish a National Institute of Valuers.

2. Accordingly, a Draft Valuers Bill, 2020 has been drafted to establish a National Institute of Valuers on the recommendations of the Committee.

3. Vide Notice dated 14th April, 2020 posted on the website of Ministry of Corporate Affairs, Public Comments were solicited on the Draft Valuers Bill, 2020 through email only. However, to ensure structured comments, it has been decided to invite public comments through the following weblink:-

http://feedapp.mca.gov.in

4. Copy of the Report of the Committee alongwith the Draft Valuers Bill, 2020 (Volume-I) may be accessed at the web link http://feedapp.mca.gov.in/  as well as at  Report of CoE Vol.I.pdf. and comments, if any, may be submitted online therein by end of business hours on 14th May 2020.

5. The Complete Report (Volume I, II & III) can be accessed at the link https://drive.google.com/open?id=1RkJTVkttkRTXYoPpvkfNA50CaRdg6utb.

6. It is once again requested that comments should not be sent separately through e-mail or Post.  Those who have submitted comments by email are also requested to submit comments/suggestions through above link.

(Tharvinder Singh)

Under Secretary to the Government of India

23^rd April, 2020

Report of Committee of Expert for Valuation Bill, 2020.

Establishment of National Institute of Valuers invites public consultation; stakeholders must submit comments online by specified deadline. Establishment of a statutory National Institute of Valuers is proposed through the Draft Valuers Bill, 2020 based on a Committee of Experts' recommendations. A public consultation is solicited; stakeholders must submit comments exclusively via the specified online portal where the Draft Bill and the Committee's report (Volumes I-III) are accessible, and are instructed not to send comments by email or post.