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Employed Valuers Now Restricted In IBBI

Delhi 10 April 2019 :The Insolvency and Bankruptcy Board of India is the regulator for overseeing insolvency proceedings and entities like Insolvency Profess Now ional Agencies, Insolvency Professionals and Information Utilities in India..The IBBI will terminate licence of valuer who are acting as director in any company. As per IBBI the valuers which are under employment have to surrender license whom are under employment. In income tax the employment is major clause for licence under 34AB of Wealth tax act. Employees are prohibited to act as valuer. IBBI accepted the complaint of SK Shrivastava of India RTI News and put rider in licence

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