Companies (Registered Valuers and Valuation) Rules, 2017
The rulebook behind every registered valuer, and the numbers in it that the exam asks about.
The Companies (Registered Valuers and Valuation) Rules, 2017 are made under section 247 of the Companies Act. They decide who can register as a valuer, how a Registered Valuers Organisation (RVO) is recognised, what a valuer must do on every assignment, and how registration is suspended or cancelled. IBBI is the authority that runs them.
Both syllabuses list the Rules in their law modules, and they are a reliable source of one-mark questions because almost every rule carries a number: a day count, a fee or a period. This page maps the Rules; the eligibility conditions and the report contents have pages of their own.
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How the Rules Are Organised
I. Preliminary
Rules
1-2
What it covers
Application to valuations under the Act; definitions such as asset class and valuer
II. Valuers
Rules
3-11
What it covers
Eligibility, qualifications, the valuation exam, registration, conditions, conduct of valuation, temporary surrender, transition
III. RVOs
Rules
12-14A
What it covers
Who can be an RVO, recognition, conditions of recognition
IV. Cancellation or suspension
Rules
15-17
What it covers
Grounds, complaints, show-cause procedure
V. Valuation standards
Rules
18-19
What it covers
Standards notified by the Central Government; the advisory committee
VI. Miscellaneous
Rules
20-21
What it covers
Punishment for contravention and for false statements
Annexures
Rules
I-V
What it covers
I: model code of conduct. II: forms. III: RVO bye-law requirements. IV: qualifications by asset class. V: fees for changes
| Chapter | Rules | What it covers |
|---|---|---|
| I. Preliminary | 1-2 | Application to valuations under the Act; definitions such as asset class and valuer |
| II. Valuers | 3-11 | Eligibility, qualifications, the valuation exam, registration, conditions, conduct of valuation, temporary surrender, transition |
| III. RVOs | 12-14A | Who can be an RVO, recognition, conditions of recognition |
| IV. Cancellation or suspension | 15-17 | Grounds, complaints, show-cause procedure |
| V. Valuation standards | 18-19 | Standards notified by the Central Government; the advisory committee |
| VI. Miscellaneous | 20-21 | Punishment for contravention and for false statements |
| Annexures | I-V | I: model code of conduct. II: forms. III: RVO bye-law requirements. IV: qualifications by asset class. V: fees for changes |
The Numbers Worth Memorising
3(1)(c)
Provision
Exam pass must be within this period before applying for registration
Number
3 years
5(3)
Provision
Syllabus, format and frequency published before the exam
Number
At least 3 months
5(5)
Provision
Attempts at the valuation exam
Number
Any number
6(1), 6(2)
Provision
Registration application fee, non-refundable
Number
₹5,000 individual, ₹10,000 partnership entity or company
6(3)-(5)
Provision
Time to cure deficiencies, give documents or appear
Number
21 days each
6(6)
Provision
Grant of registration in Form-C
Number
Within 60 days of receipt
6(7), 6(8), 6(10)
Provision
Prima facie refusal, applicant's reply, final decision
Number
45 days, 15 days, 30 days
7(f)
Provision
Records of each assignment kept
Number
At least 3 years from completion
9(2)
Provision
RVO informs IBBI of a temporary surrender or revival
Number
Within 7 days
13(1)
Provision
RVO recognition application fee
Number
₹1 lakh
16
Provision
Complaint fee against a valuer or RVO
Number
₹1,000
17(8)
Provision
Cancellation or suspension order takes effect
Number
After 30 days, unless stated otherwise
| Rule | Provision | Number |
|---|---|---|
| 3(1)(c) | Exam pass must be within this period before applying for registration | 3 years |
| 5(3) | Syllabus, format and frequency published before the exam | At least 3 months |
| 5(5) | Attempts at the valuation exam | Any number |
| 6(1), 6(2) | Registration application fee, non-refundable | ₹5,000 individual, ₹10,000 partnership entity or company |
| 6(3)-(5) | Time to cure deficiencies, give documents or appear | 21 days each |
| 6(6) | Grant of registration in Form-C | Within 60 days of receipt |
| 6(7), 6(8), 6(10) | Prima facie refusal, applicant's reply, final decision | 45 days, 15 days, 30 days |
| 7(f) | Records of each assignment kept | At least 3 years from completion |
| 9(2) | RVO informs IBBI of a temporary surrender or revival | Within 7 days |
| 13(1) | RVO recognition application fee | ₹1 lakh |
| 16 | Complaint fee against a valuer or RVO | ₹1,000 |
| 17(8) | Cancellation or suspension order takes effect | After 30 days, unless stated otherwise |
Rules That Shape Day-to-Day Practice
- Rule 7: conditions of registration
- Keep meeting the eligibility criteria, value only the asset classes you are registered for, take IBBI's prior permission to move to another RVO, keep records for three years, and follow the Annexure I code of conduct. In a firm or company, only a partner or director registered for that asset class may sign.
- Rule 8(1) and rule 18: which standards
- A valuer must follow the valuation standards the Central Government notifies under rule 18. Until those are notified, the proviso to rule 8(1) allows internationally accepted valuation standards, or the standards adopted by any RVO.
- Rule 8(2): using another valuer
- A valuer may take inputs from, or a separate asset-class valuation by, another registered valuer, but must disclose it fully and stays liable for the final valuation.
- Rule 3(2): entities
- A partnership entity or company can register only if, among other conditions, three or all of its partners or directors, whichever is lower, are registered valuers, and at least one is registered for the asset class it seeks.
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What Changed in 2026
The Amendment Rules, 2026 (notified 1 June 2026, in force from Gazette publication on 3 June 2026) rewrote rule 12(1)(i). An RVO set up as a section 8 company now needs a minimum paid-up share capital of ₹25 lakh, besides the sole object of regulating valuers and the Annexure III bye-laws. RVOs short of that capital have until 31 March 2028. This came in before the exam's 30 June 2026 law cut-off, so it is in scope.
How the Valuation Examination Tests This
- check_circleDay counts that sit close together: 21 days to cure deficiencies, 45 days for a prima facie refusal, 60 days to grant, 15 days to reply, 30 days to decide. The trap is swapping 45 and 60.
- check_circleFees: ₹5,000 and ₹10,000 for registration, ₹1 lakh for RVO recognition, ₹1,000 for a complaint.
- check_circleRecord periods: rule 7(f) says three years from completion of the assignment. Do not confuse it with the three-year interest window in section 247(2)(d).
- check_circleStandards: the Rules as published by IBBI record no notification under rule 18, so questions about 'which standards apply' turn on the proviso to rule 8(1).
FAQs
Under which section are the Registered Valuers Rules made?expand_more
Section 247 of the Companies Act, 2013, read with sections 458, 459 and 469.
How long does IBBI take to grant registration as a valuer?expand_more
Rule 6(6) says within 60 days of receiving the application, excluding any time given to the applicant for documents, clarifications or appearance.
Which valuation standards must a registered valuer follow?expand_more
Standards notified by the Central Government under rule 18. Until they are notified, rule 8(1) allows internationally accepted valuation standards or standards adopted by any RVO.
How long must a registered valuer keep records?expand_more
Rule 7(f) requires records of each assignment for at least three years from its completion. The code of conduct adds that records must be kept until a pending case before the Tribunal or Appellate Tribunal is disposed of.
Next steps
- Eligibility & Registrationarrow_forward
- Section 247arrow_forward
- Code of Conductarrow_forward
- RV List & RVOsarrow_forward
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