CIRCULAR:-  CEV/MON-COM/21/02          DATED-01/04/2021                                   

DEAR ALL RV MEMBERS

SUB: Regarding Criteria Laid Down In Chapter III, Rule 12(2)(C), Of Companies (Registered Valuers & Valuation) Rules, 2017, We Are Continuously Organizing A COP Training Program For Our Members Who Have Cleared Valuation Exam Conducted By IBBI.

The Certificate of Practice (COP) Will Is Issued To The Participants After They Are Enlisted In The List Of RV Prepared By The IBBI.

Dear Sir,

You are requested to divert your kind attention on the above-mentioned criteria laid down by the authority in which “Registered Valuer” means a person who has been granted a certificate of registration by the authority under Rule 6 of the Companies (Registered Valuers and Valuation) Rules, 2017 and has been granted Certificate Of Practice by the Registered Valuers Organisation in respect of valuation of an asset class or classes and the term “valuer” shall be construed accordingly;

1. Every Registered Valuer Member of CEV IAF RVO is mandatorily required to undergo training for the assets class for which he is registered before he is granted a Certificate of Practice by the RVO.

Members holding certificates of practice for part of the year are required to earn mandatory credit hours in proportion to one hour for every completed month. Members holding a certificate of practice for 3 months or less are fully exempt from the CEP requirements for that year.

2. After the applicant has been granted registration by the Authority, the applicant has to obtain a Certificate of Practice from the respective RVO before the commencement of practice.

RVO grants certificate of practice, to individuals or partnership entities, who fulfill the requirements laid down by it in this regard, in respect of the valuation of a class of assets for which it is recognized as a valuation professional organization;

3. Accordingly, various COP & CEP Sessions were organized by the CEV IAF RVOduring the last days through online mode to give opportunities to all its members to attend in time according to their convenience after their registration, and all members were informed personally & also through various social media platforms & publications time to time.

It is found as per records you have not attended any one of them. You are being requested to attend a COP session of eight hours as soon as possible to get compliance with the rules laid by the authority.

4. You are hereby again requested to submit the following reports if not submitted yet:

(1) The half-yearly return report M-4 of valuations done as per CIRCULAR- CEV/MON-COM/21/01 Dated 05/04/2021 and

(2) Any in-disciplinary action was taken by any bank against you during the period (or pending).

(3) The Yearly-yearly return report M-3 of valuations done as per CIRCULAR- CEV/MON-COM/21/01 Dated 05/04/2021

5. This is compulsory for all RVs to send in soft copy through email and signed hard copy by registered post within 15 days after completing Half Year (i.e. 30^thSeptember & 31^stMarch) up to the date of application also, enclose necessary documents along with it in evidence to support your statements.

The information & format of the same has been sent to you earlier on what’s app group of RVs created by CEV IAF RVO and to put on records the same is also available on the official website of the organization. 

6. You are also requested to please be guided by the conditions stipulated in Model By-laws of a Registered Valuer Organization at serial no VI Clause no-11 Membership fee-‘The the organization may require the members to pay a fixed sum of money as its annual membership fee at page number 61 & IX point number 30 (c) of Annexure III at page number 68 and 69 of companies (Registered Valuers & Valuation) rules 2017.

For more details click on the below-mentioned link and read all support instructions carefully:

https://cevnews.in/2021/08/rvs-essential-documents-kit-for-every-registered-valuer-of-cev-iaf-rvo/

SUPPORT INSTRUCTIONS

SERIAL NUMBER 1

If an RV has done any report under the statuary provisions of the company’s act, during this half-year (means 01/04/2021 to 30/09/2021).

He has to generate the UID immediately (mandatory) available on Serial Number 1 and print it on every page of the report immediately along with the date of generation.

The same UID should reflect in the HYR & a copy of the Valuation reports, to be submitted after 30/09/2021 for peer review purposes.

This process is helpful for the renewal of COP immediately.

SERIAL NUMBER-2

This form is to be attached along with every Valuation report done by RVs under any STATUTE.
Also same to be sent to CEV headquarters after completion of every HYR (M-4) along with photocopies of every individual report.

(Separate form available for each asset class)

SERIAL NUMBER-3

This form (M-3) is to be submitted at the end of each financial year and to be filled between 01/04 to 15/04 of every year.

SERIAL NUMBER-4

This form (M-4) is to be submitted on half YEARLY basis.
All data filled in SERIAL NUMBER 1 & SERIAL NUMBER-2 should reflect in this form (Mandatory Requirement)
If anyone has any doubts or anything to ask he can contact on helpline number available on the official website of the organization WWW.CEVIAF.ORG or any member of the monitoring committee.

SERIAL NUMBER-5

This form is to be filled and keep ready while an RV is called for inspection purposes as per the rules.

After completion of the inspection process, this form is to be sent in original to CEV headquarters by registered post to inspection committee records to be sent to the authority.
If anyone has any doubts or anything to ask he can contact on helpline number available on the official website of the organization WWW.CEVIAF.ORG or any member of the monitoring committee.

Please ignore this mail if all compliances are done by you prior to receipt of this letter.

We are committed to providing all possible help immediately. You can call me on the official helpline number for any help or support on this issue.

Thanks & Regards

(NOTICE DATED-01/04/2022)