Valuation of assets or business intended to be sold.

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....tions under these regulations. ^9[(2) In cases not covered under sub-regulation (1) or where the committee, is of the opinion that fresh valuation is required under the circumstances, the liquidator shall within seven days of the liquidation commencement date, appoint two registered valuers to determine the realisable value of the assets under regulation 32 of the corporate debtor: Provided that the following persons shall not be appointed as registered valuers, namely: -  (a) a relative of the liquidator;  (b) a related party of the corporate debtor;  (c) an auditor of the corporate debtor at any time during the five years preceding the insolvency commencement date; or  (d) a pa....

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....s for the difference to the ^14[****] committee.] ^6[(8) For the purposes of this regulation, a registered valuer shall prepare the valuation report and maintain such documentation as per the format notified by the Board through circular.]     ************* NOTES:- 1. Substituted vide Notification No. IBBI/2018-19/GN/REG037 dated 22-10-2018 before it was read as, "Valuation of assets intended to be sold 35. (1) The liquidator shall appoint at least two registered valuers to value the assets as required under Regulation 34(2). (2) The provisions of Regulation 7 shall apply mutatis mutandis to registered valuers appointed under sub-regulation (1). (3) The registered value....

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....[where the liquidator after consultation with the consultation committee under regulation 31A, is of the opinion] that fresh valuation is required under the circumstances, he shall within seven days] of the liquidation commencement date, appoint two registered valuers to determine the realisable value of the assets or businesses under clauses (a) to (f) of regulation 32 of the corporate debtor: ^7[Provided that, in respect of a corporate debtor classified as a micro, small or medium enterprise under sub-section (1) of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), the liquidator shall appoint one registered valuer for each asset class of the corporate debtor, unless the liquidator after con....