Becoming a registered valuer in India is a structured process governed by regulations set forth by the Ministry of Corporate Affairs (MCA) and the IBBI or the relevant professional bodies like RVOs for valuers. Below is a detailed explanation of the steps involved in becoming a registered valuer in India.

Step-by-Step Guide to Becoming a Registered Valuer in India

Step 1: Understand the Eligibility Criteria

To become a registered valuer in India, candidates must meet specific educational and professional criteria. The general eligibility requirements are as follows:

1. Educational Qualifications:
   • Candidates should have a graduate degree in any discipline from a recognized university.
   • A professional qualification from a recognized institution is also acceptable, such as:
     • Chartered Accountant (CA)
     • Company Secretary (CS)
     • Cost and Management Accountant (CMA)
     • Engineer
     • Architect
     • Valuation professional (with relevant qualifications)
2. Experience:
   • Candidates must have at least three years of practical experience in valuation.
   • This experience must be in the relevant field, such as real estate, machinery, or financial assets, depending on the type of valuation one intends to practice.

Step 2: Complete the Required 50 Hrs Training

1. Training Course:
   • Candidates must complete a recognized training program on valuation conducted by an accredited institution or body.
   • This course typically covers essential topics such as valuation standards, techniques, ethics, and legal aspects.
2. Internship/Practical Training:
   • A certain period of practical training or internship under a registered valuer is often recommended to gain hands-on experience.

Step 3: Enroll in a Valuation Course

• Candidates must enroll in and complete a specialized valuation course approved by the authorities. The course usually covers various valuation methodologies, relevant laws, and regulations.

1. Courses Offered:
   • The RVOs, and other recognized institutions offer specific courses in valuation.
   • These courses may include modules on financial, real estate, and asset valuation.

Step 4: Pass the Examination

• After completing the valuation course, candidates must pass the qualifying examination conducted by the relevant authority (IBBI).
• This examination tests the candidate’s understanding of valuation principles, methods, and ethical considerations.

Step 5: Apply for Registration as a Valuer

1. Gather Required Documents:
   • Candidates must prepare the necessary documentation, which typically includes:
     • Educational certificates
     • Professional qualification certificates
     • Proof of experience (e.g., employment letters, training certificates)
     • Completion certificate of the valuation course
     • Identification proof (Aadhaar card, PAN card, etc.)
2. Application Form:
   • Fill out the registration application form available on the official website of the relevant authority (e.g., IBBI).
   • Ensure all details are accurately filled and all necessary documents are attached.
3. Submission:
   • Submit the application form along with the required documents to the appropriate regulatory body.
   • Pay any applicable registration fees as stipulated.

Step 6: Attend an Examination/Interview (If Required)

• Some regulatory bodies may conduct an interview as part of the registration process to assess the candidate’s knowledge and competence in valuation practices.

Step 7: Obtain Registration

• Once the application is reviewed and approved, candidates will receive their registration certificate as a valuer.
• This registration will allow them to practice as a registered valuer in India.

Step 8: Adhere to Continuing Professional Education (CPE)

• After becoming a registered valuer, it is essential to engage in ongoing professional development.
• Registered valuers must complete a certain number of CPE hours annually to maintain their registration and stay updated on valuation standards and practices.

Regulatory Framework

The registration of valuers in India is primarily governed by the following regulatory bodies and acts:

1. The Insolvency and Bankruptcy Code, 2016: This code established the framework for the registration and regulation of valuers in India.
2. The Insolvency and Bankruptcy Board of India (IBBI): The IBBI is the main regulatory authority overseeing the registration of valuers, including setting the standards and qualifications for registration.

Becoming a registered valuer in India is a structured process that involves meeting educational and professional criteria, completing recognized training, passing examinations, and applying for registration with the relevant authorities. By following the steps outlined above, individuals can successfully navigate the path to becoming a registered valuer, enabling them to provide essential valuation services in various sectors of the economy. Continuous professional development is key to maintaining registration and staying relevant in the evolving field of valuation.