The Companies Act, 2013 has introduced the concept of ‘Registered Valuer’ to cover valuation in respect of any property, stock, shares, debentures, securities, goodwill or any other assets of the company including its net worth and liabilities.The Draft Rules provide that a Register of Valuers shall be maintained by the Central Government in which there shall be registered the names, address and other details of the persons registered as valuers.The eligibility criteria to be registered as a valuer have been provided in the Draft Rules. Though business valuations are required in varied situations such as court approved M&A, fresh issue of shares, transfer of shares etc., the concept of valuation as a code is new to India.The Companies Act, 1956,despite using the term ‘valuation’ in some sections,does not specify the basis on which such valuations shall be done or who will do them.

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