Debt

Debt financing

IBBI bars IIV Registered Valuers Foundation from enrolling members for 6 mths

Business Line  

Insolvency regulator, IBBI, has barred IIV Registered Valuers Foundation, a Registered Valuers Organisation (RVO), from enrolling any new member for six months. The direction follows the alleged contravention by the RVO of the norm that only an independent director can be the chairperson of its governing board. It was found that there were, in all, 15 meetings of the governing board of the RVO, which were chaired by Anjum Amin Shaikh, one of the directors of the RVO and not an independent director. RVOs are the frontline organisations for the development and regulation of the valuation profession. In India, there are 16 RVOs.