📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      As per the provisions of the Companies Act which of the

      following is not a responsibility of the registered valuer?
      A Ensuring impartial, true, and fair valuation of assets Correct Answer Incorrect Answer
      B Exercising due diligence while performing valuation functions Correct Answer Incorrect Answer
      C Making valuations according to personal judgment and discretion Correct Answer Incorrect Answer
      D Conducting valuations in accordance with prescribed rules Correct Answer Incorrect Answer
      E Avoiding valuations of assets in which the valuer has a direct or indirect interest Correct Answer Incorrect Answer

      Solution

      Section 247. Valuation by registered valuers: (2) The valuer appointed under sub-section (1) shall— (a) make an impartial, true and fair valuation of any assets which may be required to be valued; (b) exercise due diligence while performing the functions as valuer; (c) make the valuation in accordance with such rules as may be prescribed; and (d) not undertake valuation of any assets in which he has a direct or indirect interest or becomes so interested at any time during a period of three years prior to his appointment as valuer or three years after the valuation of assets was conducted by him.

      Practice Next
      More Banking Related Laws Questions
      ask-question