The Hon’ble Supreme Court of India, through its various judgements, has elaborated the scope of court’s jurisdiction to interfere with the opinion of a valuer. It has often considered Valuers to be experts in their field and held that their opinions ought not to be rejected without proper consideration. Court’s obligation is to be satisfied that valuation was in accordance with the law and it was carried out by an independent body.
Considering the kind of respect and credibility this profession has garnered over the years, it is imperative for Registered Valuers to adhere to the highest standards of professionalism while undertaking the valuation assignments in the interest of the stakeholders. To achieve this goal a Registered Valuer is expected to exercise utmost care and caution while deriving a value and are also supposed to continuously train themselves and upskill their competency.
As part of our knowledge dissemination initiatives and considering the need to create awareness about the practical aspects and procedures of law in the sphere of Valuation, ICAI RVO together with the Institute of Chartered Accountants of India has decided to bring out the publication Judicial Pronouncements in Valuation.
I am extremely happy for all the joint initiatives taken by the Institute of Chartered Accountants of India with ICAI RVO. I would like to appreciate the dedicated efforts of all the members of the Valuation Standards Board of ICAI under the leadership of CA. Anil S Bhandari, Chairman, Valuation Standards Board (VSB) and M. P. Vijay Kumar, Vice Chairman, Valuation Standards Board (VSB). I would also like to appreciate the support provided by my colleagues on the Board of ICAI RVO, Shri Pawan Singh Tomar, Shri Ashok Haldia, Prof. Anil Saini, CA. Nihar N. Jambusaria & CA. Prafulla P. Chhajed – the Directors of ICAI RVO, in encouraging all our initiatives.
I commend the sincere efforts put in by Shri Rakesh Sehgal, Managing Director, ICAI RVO, CA. Sarika Singhal, Officiating CEO, ICAI RVO and Ms.
S. Rita, Deputy Secretary, ICAI for finalising this publication.
I am confident that this publication will help Registered Valuers (RVs) and other stakeholders in developing their skills and competencies.
Date: 3rd February, 2022 Rajeev Kher
Place: New Delhi Chairperson and Independent Director, ICAI RVO
