Ministry of Corporate Affairs (MCA) revised the rule in the regard that now non-graduate chartered accountants (CAs) who have three years of experience and is not yet graduate can now become the registered valuers.
Earlier, a CA who had three years of post-qualification experience and graduated could become the registered valuer.
The Institute of Chartered Accountants of India (ICAI) said in a release “Now, a chartered accountant is not required to be a graduate to become a registered valuer”.
The ICAI added “It was informed to the Ministry of Corporate Affairs that the chartered accountancy course that has been approved by the government, allows a 10+2 student to enroll for chartered accountancy course. It does not mandate a student to be a graduate for enrolling in the course. Hence, a CA may or may not be a graduate”.
Under the Companies Act, 2013, a registered valuer carries out the price of assets, total assets of a firm or its liabilities as per the requirement.