IBBI Upholds Suspension of Registered Valuer for Non-Transparent Land Valuation in CIRP Process

The IBBI (Insolvency and Bankruptcy Board of India) has upheld the "suspension of a registered valuer for non-transparent land valuation in a CIRP (Corporate Insolvency Resolution Process) process." The valuer was found to have failed to provide a clear and justifiable basis for the land valuation, which is a critical component of the resolution plan. The IBBI's action underscores its strict stance on accountability and professional standards for valuers, ensuring that they provide fair and transparent valuations, which is crucial for a credible and efficient insolvency process.