IBBI Cancels Registration of Land and Building Valuer Over Regulatory Non-Compliance

Disciplinary Action Following Expulsion by Valuers’ Organisation

The Insolvency and Bankruptcy Board of India has cancelled the registration of Mr. P. Natarajan as a registered valuer in the asset class of Land and Building, following disciplinary proceedings initiated under the Companies (Registered Valuers and Valuation) Rules, 2017. The action arose after the Disciplinary Committee of the IOV Registered Valuers Foundation expelled Mr. Natarajan for repeated regulatory breaches, including non-payment of membership fees, failure to submit prescribed returns, and non-compliance with continuing professional education requirements. Under the Valuation Rules, a registered valuer must remain a member of a recognised Registered Valuers Organisation at all times. With Mr. Natarajan’s expulsion, the IBBI found that he no longer met the eligibility conditions required to continue his registration.

Valuer Seeks Cancellation, IBBI Orders Immediate Effect

During the proceedings, Mr. Natarajan did not respond to the show cause notice but later informed the Authority that he had stopped practising valuation due to age and requested cancellation of his registration. The IBBI noted that even earlier, before the valuer organisation’s disciplinary body, he had expressed disinterest in continuing valuation practice. Considering the regulatory framework and his ineligibility following expulsion, the IBBI formally cancelled his registration with immediate effect. The Board also directed that a copy of the order be forwarded to the concerned valuers’ organisation, thereby closing the disciplinary proceedings.

The order reinforces the requirement of continuous regulatory compliance and organisational membership as a foundational condition for practising as a registered valuer under India’s insolvency framework.