ITO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTTON 3, SUB-SECTTON (il1

Government of Indla
Minietry of Corporate Affairs
Notiflcation

6'
,o!h..
New Delhi, the lJ November, 2018

G.S.R.......(E|.- [n exercise of the powers conferred by section 24T read

with section 469 of the Companies Act, 2013 (18 of 2Ol3), the Central
Government hereby makes the following rules further to amend the Companies
(Registered Valuers and Valuation) Rules, 2017, namely>

1. (1) These rules may be called the Companies (Registered Valuers and
Valuation) Fourth Amendment Rules, 2018.

(2)
They shall come into force on the date of their publication in the Official
Gazette.

2. In the
Companies (Registered Valuers and Valuation) Rules, 20 l7
(hereinafter referred to as "the said rules"), in rule l,-

(a) for the marginal heading, the following marginal heading shall be
substituted, namely:-

"Short title, commencement and application";

(b) after sub-rule (2), the following sub-rule shal1 be inserted, namely:-
 "(3) These rules shall apply for valuation in respect of any property, stocks,
shares, debentures, securities or goodwill or any other assets or net worth
of a companv or its liabilities under the provision of the Act or these rules.

Explanation.- It is hereby clarified that

conduct of valuation under any
other law other than the Act or these rules by any person shall not be
affected by virtue of coming into effect of these rules.".

3. In the said rules, in rule 3, in sub-rule (2), -

(a) in clause (a), the word "not" shall be omitted;

(b) in clause (c), after the brackets and letter "(e)", the brackets and letter
"(f)," shall be inserted.

4. In the said rules, in rule 4,-

(a) in clause (c), the words, brackets and letters "and having qualification
mentioned at clause (a) or (b)" shall be omitted;

(b) in Explanation II, the words "and examination or training" shall be omitted;
(c) after Explanation II, the following Explanation shall be inserted, namely:-

"Explanation III.- For the purposes of this rule and Annexure IV,
tquivalent' shall mean professional and technical qualifications which are
recognised by the Ministry of Human Resources and Development as
equivalent to professional and technical degree.".

5. In the said rules, in rule 10, the words "and he may conduct valuation
as per these rules if required under any other law or by any other regulatory
authority" shall be omitted.

6. In the said rules, in rule 11, the Explanation shall be omitted.

7. In the said rules, in rule 12, in sub-rule(l), in clause (ii), for the words "a
professional institute', the words "it is a professional institute" shall be
substituted.
 8. In the said rules, for Annexure IV, the following Annexure shall be
substituted. namelv :-

"Annexure IV

Eligibility Qualification and Experience for Registration as Valuer

(See Explanation II to rule 4)

Asset Class Eligibility

Qualifications
Experience in
specified
discipline.
Plant and (i) Graduate in Mechanical, Electrical, Electrontc (i) Five years
Machinery and Communication, Electronic and
Instrumentation, Production, Chemical, Textiles,
Leather, Metallurry, or Aeronautical Engineering,
or Graduate in Valuation of Plant and Machinery or
equivalent;

(ii) Post Graduate on above courses. (ii) Three years

Land and (i) Graduate in Civil Engineering, Architecture, (i) Five years
Building Town Planning or equivalent;

(ii) Post Graduate on above courses and also tn (ii) Three years.
valuation of land and building or Real Estate
Valuation (a two-year full time post-graduation
coursel.
Securities or (i) Member of lnstitute of Chartered Accountants of
Financial India, Member of Institute of Company Secretaries
Assets of India, Member of the Institute of Cost
Accountants of India, Master of Business Three years
Administration or Post Graduate Diploma in
Business Management (specialisation in finance).

iil
Post Graduate in Finance
Any other asset class along with corresponding qualifications and experience in
accordance with rule 4 as mav be specified bv the Central Government.
Note.- The eligibility qualification means qualification obtained from a recognised
Indian University or equivalent Institute whether in India or abroad.".

lF.No.r 127 l20 L-V(Part)l

ir-"
l^*0

Joint Secretary to the Government of India

Note : The principal rules were published in the Gazette of India, Extraordinary,
Part II, Section 3, Sub-section (il uide number G.S.R. 1316(E), dated the 18fr
October, 2Ol7 and subsequently amended, number G.S.R. f 55 (E), dated the
9ft February, 2018, number G.S.R. 559 (E), dated the l3th June, 2018, and
number G.S.R. number 925(E), dated the 25th September, 2018.
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