THE COMPANIES (REGISTERED VALUERS AND VALUATION RULES, 20171 — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

THE COMPANIES (REGISTERED VALUERS AND VALUATION RULES, 20171 In exercise of the powers conferred by section 247 read with sections 458, 459 and 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules; namely: _ CHAPTER I PRELIMINARY 1. Short title and commencement: __ (1) These rules may be called the Companies (Registered Valuers and Valuation) Rules, 2017. 2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions _ (1) In these rules, unless the context otherwise requires (a) Act" means the Companies Act; 2013 (18 0f 2013); b authority" means an authority specified by the Central Government under section 458 of the Companies Act, 2013 to perform the functions under these rules; ~asset class" means a distinct group of assets, such as land and building, machinery and equipment, displaying similar characteristics, that can be classified and requires separate set of valuers for valuation; ~certificate of recognition" means the certificate of recognition granted to a registered valuers organisation under sub-rule (5) of rule 13 and the term "'recognition" shall be construed accordingly; ~certificate of registration' means the certificate of registration granted to a valuer under sub-rule (6) ofrule 6 and the term "registration" shall be construed accordingly; "partnership entity' means a partnership firm registered under the Indian Partnership Act; 1932 (9 of 1932) 0r limited liability partnership registered under the Limited Liability Partnership Act; 2008 (6 of 2009); Annexure' means an annexure to these rules; h ~registered valuers organisation means registered valuers organisation recognised under sub-rule (5) of rule 13; "valuation standards means the standards on valuation refer