As per the present observe, Registered Valuer (RV)/ Register Valuers Entity (RVE) submit the valuation reviews with or with out mentioning any reference quantity resulting in potential points regarding verification.
“With the intention to guarantee authenticity and to have a singular reference variety of the valuation reviews, it has been determined to offer a Valuation Report Identification Quantity (VRIN) for every valuation carried out below the Code,” the IBBI round mentioned.
This round applies to all valuation reviews dated on or after August 12.
Additional, the IBBI in session with Registered Valuers Organisations has developed a web-based module which might be accessed by its official web site, for the technology of VRINs.
The registered valuers and valuer entities might be required to generate distinctive quantity and point out them on the entrance web page on valuation reviews. “A facility can be being supplied on the IBBI web site to permit stakeholders to confirm the authenticity of the report through the use of VRIN,” the board mentioned. It has additionally instructed Insolvency Professionals (IPs) to not settle for any valuation reviews with out a VRIN.
The IBBI is a statutory physique functioning below the company affairs ministry. It was established on October 1, 2016, below the Insolvency and Chapter Code (IBC).