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

23th April 2020

 

Valuation regulation: public consultation on Draft Valuers Bill extended; online submissions invited through official portal. A Draft Valuers Bill, 2020 and the Committee of Experts' Report proposing a National Institute of Valuers have been published; public comments are invited online via the Ministry's designated portal and provided links, with a requirement that submissions not be sent by email or post. The deadline for submitting comments has been extended to 28th May 2020 to permit further stakeholder input.