MCA delegates functions for registered valuers

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The Ministry of Corporate Affairs (MCA), issued Notification No. SO 3401 (E) on 23 October stating that it would be delegating all its powers and functions to prescribe rules regarding registered valuers, to the Insolvency and Bankruptcy Board of India. The MCA had issued the Companies (Registered Valuers and Valuation) Rules, 2017 on 18 October. It is unclear whether this MCA notification is in conflict with the rules, or is to be restricted to only valuation proceedings under the Insolvency and Bankruptcy Code, 2016.

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