Article by – Mrs. Neha Srivastava – Manager, Direct Tax at International Business Advisors
Excerpts from the Article – “The Companies Act, 2013 (Act) had brought the concept of Registered Valuers to regulate the practice of Valuation in India and to standardize the valuation in line with International standards. However, the valuers qualification, experience, manner and process was left to be decided by the Rules. Thus, the ministry of Corporate affairs has on October 18,2017, notified rules for registration of Valuers as required under section 247 pertaining to Valuation by registered valuers of Companies Act, 2013.”
“The rules may be called “The Companies (Registered Valuers and valuation) rules, 2017” and shall be applicable from the date of notification in the official gazette which is October 18, 2017. Thus, with notification of these rules, section 247 of the Companies Act also came into effect.” Read more…..
This Article has been published in Taxmann on December 7, 2017