The Corporate Affairs Ministry (MCA) has set up a eight member 'Committee of Experts' to examine the need for an institutional framework for regulation and development of valuation professionals. The Panel would be headed by IBBI Chairman M S Sahoo.
It would also cover the regulatory architecture, including the extent of self-regulation and statutory regulation, governance of the regulatory institutions, monitoring of the conduct and performance of valuers and disciplinary mechanism.
The Committee will look at a mechanism for development of a cadre of valuers, including the current practitioners and freshers who wish to have a career in valuation profession. It will also cover aspects such as provision of valuation services, including market structure, valuation standards.
Besides Sahoo, the members of the Panel include the Presidents of the three professional institutes - ICAI, ICSI and ICoAI; B Sriram, former MD & CEO of IDBI Bank; Prof. R Narayanaswamy, Professor, IIM Bangalore and Ajay Bahl, Founding Partner, AZB & Partners, a law firm.