Views of one of our members from LUDHIANA….
Please comment on this..
Regarding this issue of ibbi which states to become registered valuer after passing a exam online after a course of 50 hours has very adverse effect upon all practicing valuers and all already recognised as “Govt registered valuers” under section 34AB of wealth tax act. Now we see a future where two kind of registered valuer. IBBI never gave thought for already govt registered valuers under wealth tax act. Imagine of valuers who are experienced and practicing since more than 30 to 35 years or say above age of 50. They are to study for one week course after locking their offices and there after to appear in online exam of two hours with 100 questions. These senior valuer are not frequently using computer but running their offices by employing juniors. In words this step of IBBI will wash away the cream of experienced valuers which is otherwise, naturally very useful to all financial institutions including all banks. In short,the registered valuer will only be stamped as genuin if one passes online exam after 50 hours training.
No deep mind storming has on account has been done by IOV etc particularing while saying ok to IBBI for online exam without consideration of experience and incapability of senior valuers at age of 50-65 to be conversant with smooth bailing out of fuss created for already govt registered valuers.