UNIFORM VALUATION STANDARDS FOR IBC ASSETS IN THE WORKS
At present, internationally accepted valuation standards adopted by the Registered Valuers Organisation are used by the registered valuers for the purpose of arriving at the cost or value of assets such as plant and machinery and land and building.
In a move that will improve evaluation of assets under resolution, the government is working on bringing about a uniform set of valuation standards. The move, which is still at a nascent phase, is being spearheaded by the Insolvency and Bankruptcy Board of India (IBBI).
“Arriving at an objective valuation is extremely important from the perspective of the Insolvency and Bankruptcy Code. To this end, the IBBI is looking to work out valuation guidelines that can be used for these cases and later for other purposes also,” said a person familiar with the development………….
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