Registered Valuer Under IBC explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
A valuation report in a CIRP is not an opinion piece. It is a document that a Tribunal may be asked to test, that creditors will rely on to accept a haircut, and that carries a named individual's registration number on its face.
Which is why the question "who is allowed to sign this" has a precise answer — and why getting the appointment wrong can delegitimise a valuation whose numbers are perfectly sound.
Only a person registered with IBBI under the Companies (Registered Valuers and Valuation) Rules, 2017 may value in a CIRP — and only for the asset class they are registered in. The RP appoints two sets, each with one valuer per class and a designated Coordinator Valuer. Independence bars are absolute: no relatives of the RP or CoC members, no statutory auditor of the last five financial years, no financial interest in the outcome. A lapsed VRN is not a technicality.
The registration framework
Registered valuers exist under Section 247 of the Companies Act, 2013, read with the Companies (Registered Valuers and Valuation) Rules, 2017. The IBBI is the authority specified to administer the framework — which is why the same registry serves both Companies Act valuations and insolvency valuations. Registered valuers under the Companies Act →
Registration is per asset class, and there are three:
| Asset class | Broad eligibility shape |
|---|---|
| Land and Building | Civil engineering, architecture or town planning background |
| Plant and Machinery | Mechanical, electrical, electronic or production engineering background |
| Securities or Financial Assets | Finance post-graduation, or membership of ICAI, ICSI or ICMAI |
In each case the Rules pair a qualification with a minimum period of post-qualification experience — broadly three years for a post-graduate or professional-body member, five years for a graduate. The exact combination differs by asset class, so check the Rules for the class you are registering in rather than assuming.
The route to registration runs: membership of a Registered Valuers Organisation (RVO) → the prescribed educational course → the IBBI valuation examination for that asset class → application to IBBI → certificate of registration and a Valuer Registration Number (VRN).
A valuer cannot cross asset classes. Someone registered for Plant and Machinery cannot value the land the plant sits on. That is why a company with land, a factory and a brand needs six appointments, not two. The three asset classes →
How appointment works in a CIRP
Regulation 27 requires the resolution professional to appoint two sets of registered valuers — each set holding one valuer for each asset class, with one of them designated the Coordinator Valuer — within seven days of the RP's appointment and in any event by the 47th day from the insolvency commencement date. For an MSME, or a debtor with turnover up to ₹500 crore, the CoC may engage a single valuer instead.
In practice the selection is not a phone call. Prospective valuers are generally asked to present to the Committee of Creditors — proposed methodology, scope, timeline and fees — before appointment. With three asset classes and several candidates each, an RP can be coordinating twenty or more presentations inside that window.
That is worth planning for. The 47-day limit is measured from commencement, not from when the RP finally has the records, so the presentations have to be run in parallel with everything else happening in the first six weeks of a CIRP. The full valuation timeline →
The independence bars
These are the checks the RP must run before appointing, and they are not discretionary. A valuer may not be appointed who:
- is a relative of the resolution professional or of any member of the CoC;
- was the statutory auditor of the corporate debtor in any of the preceding five financial years;
- is a partner or director of the entity the RP is associated with;
- holds any direct or indirect financial interest in the outcome of the process.
Appointments are disclosed, and any pre-existing relationship has to be declared up front rather than surfacing later.
Why this is worth being strict about: a perceived conflict can delegitimise the entire valuation even where the numbers are technically correct. An objection to the appointment is far easier for a dissatisfied party to run than an objection to the methodology, and it does not require them to engage with the valuation at all. Independence and conflicts in detail →
What the valuer actually has to do
The statutory obligation is to compute fair value and liquidation value in accordance with internationally accepted valuation standards, after physical verification of the inventory and fixed assets of the corporate debtor.
Two parts of that sentence do more work than they look:
"After physical verification." Not a document review. Not a desk exercise supported by photographs somebody else took. The valuer has to have seen the assets. Where assets are remote, or a factory is under a workers' blockade, that is a logistics problem to be solved — not a requirement to be waived. Why desk valuation fails →
"Internationally accepted valuation standards." Since 1 April 2026 this means International Valuation Standards only — the earlier latitude to adopt any recognised methodology, or an RVO's own standard, has been removed. Reports follow a standardised format per asset class and carry a VRIN generated on the IBBI portal in the left-hand footer of every page, distinct from both the VRN and UDIN. ESG factors must be considered. IVS for IBC valuations →
And one role beyond your own class. Where you are the Coordinator Valuer for your set, you must consolidate the other two reports into a single enterprise value — which means forming a view on synergies and going-concern items outside the class you are registered for. The coordinator valuer →
Beyond the statute, the practical obligations that determine whether a report survives contact with a Tribunal:
- state every assumption, especially where data was unavailable;
- justify the choice of methodology for that asset class, not merely name it;
- identify encumbrances independently — the corporate debtor may not disclose them all;
- run sensitivity analysis so the CoC can see how the number moves;
- keep working papers capable of reconstructing the conclusion.
Where liability actually bites
Three distinct exposures, and practitioners tend to underestimate the second and third.
IBBI disciplinary action. The registration that lets a valuer work is the same registration IBBI can suspend or cancel. This is the day-to-day risk, and it attaches to process failures — inadequate verification, undisclosed conflicts, poor documentation — not only to wrong numbers.
Statutory liability under Section 247. Contravention of the section or the Rules attracts a fine; where the contravention is committed with intent to defraud the company or its members, the exposure rises to imprisonment along with a materially higher fine. On conviction, the valuer is also liable to refund the remuneration received and to pay for damages caused by a wrong or misleading statement in the report.
A lapsed or invalid VRN. Valuing while unregistered is not a paperwork slip — it removes the legal basis for the report itself, and exposes the individual to action under the Companies Act as well as IBBI proceedings. Digital certification tied to the VRN registry makes each report traceable to a specific registered individual, which is precisely the point of it. VRN, digital certification and liability →
And a confidentiality obligation that is independent of the RP's. A valuer who leaks a number to a resolution applicant has breached their own duty, regardless of what the RP did or failed to do. Confidentiality in CIRP →
Key takeaways
- Registration is per asset class. A valuer cannot value outside it.
- Two sets, one valuer per class in each, appointed by day 47 from commencement.
- The five-year statutory auditor bar is the independence check most often missed.
- A perceived conflict can sink a technically correct valuation.
- Physical verification is mandatory, not best practice.
- Section 247 liability includes refunding the fee and paying damages on conviction.
- A lapsed VRN invalidates the basis of the report, not just the formatting.
Read next
- Valuation Under IBC: The Complete Guide
- CIRP Valuation Timeline: Regulation 27 and 35 Step by Step
- Valuer Independence and Conflict of Interest Under IBBI Rules
- Registered Valuer: Companies Act Rules vs IBC Requirements
- Companies (Registered Valuers and Valuation) Rules, 2017
Disclaimer: Positions stated as on 5 September 2026. Eligibility criteria under the Registered Valuers Rules differ by asset class and are amended periodically — verify against the current Rules and the IBBI website before relying on them.