India enters International Valuation Standards Council Advisory Forum

The International Valuation Standards Council (IVSC) welcomed Vinay Goel, Honorary General Secretary, Institution of Valuers and MD & CEO of IOV Registered Valuers Foundation, to join the IVSC Advisory Forum Working Group.

The decision was taken by the board of IVSC after considering numerous discussions and their continued partnership with Institution of Valuers (IOV) and IOV Registered Valuers Foundation (IOVRVF).

Vinay Goel thanked John Martin, Chairman IVSC AFWG by expressing his gratitude towards the opportunity provided by IVSC to serve the Valuation profession with the best of his capabilities. He feels that his selection into the Advisory Forum Working Group of the IVSC will go a long way for Indian Valuers to participate and contribute in globalisation of the profession of Valuation.

The International Valuation Standards Council (IVSC) is a not-for-profit orgsation that acts as the global standard setter for the valuation profession, serving the public interest. The IVSC is unique in the role it plays as a valuation standard setter. It is not a valuation trade body. The IVSC is a leader in the mission to raise standards of international valuation practice and is overseen by an independent board of global leaders.

Vinay Goel is serving as the Honorary General Secretary of IOV and MD & CEO, IOV Registered Valuers Foundation. The Institution of Valuers (IOV) is a national orgzation of valuation professionals in India specialized in various disciplines and various kinds of assets.

It was founded in 1968, and presently has a membership of over 20,000 valuers. The IOV serves recommendations on valuation procedures and related disputes to governmental as well as non-governmental orgzations, imparts training to valuation professionals and develops standards in asset valuation.

IOV is amongst the top five valuers association of the world on the basis of registered valuation professionals. The Institution of Valuers brings into its fold valuers of immovable property, agricultural lands, coffee estates, stocks, shares and debentures of compes, shares of a partner in a partnership, business assets including goodwill, jewellery, precious stones and ornaments, works of art, life interest reversions and interests expectancy, tea estates, standing forests, mines and quarries, machinery, electrical equipment, industry etc.

IOV Registered Valuers Foundation formed under section 8 of Compes Act, 2013 and goverened by a Board of Directors is a recognised Registered Valuers Orgsation by the Insolvency and Bankruptcy Board of India. IOV RVF is a subsidiary company of Institution of Valuers (IOV) which was Founded by P. C. Goel, "Father of Indian Valuers" in the year 1968. According to Section 247 of the Compes Act, 2013 only the professionals who have been trained by recognised bodies can carry out Valuation.

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( With inputs from ANI )