Registered Valuer Loses IBBI Registration After RVO Expulsion

Key Points:

• The Insolvency and Bankruptcy Board of India (IBBI) canceled the registration of Mr. Jaya Ram Radhakrishnan as a registered valuer due to his expulsion from the Registered Valuers Organisation (RVO) for non-compliance with mandatory requirements.
• His expulsion was based on persistent violations, including non-payment of fees and failure to meet continuing education obligations, which rendered him ineligible under the Companies (Registered Valuers and Valuation) Rules, 2017.
• This case underscores the importance of compliance with regulatory frameworks for valuers, as failure to maintain RVO membership directly impacts their ability to practice.

Background: Mr. Jaya Ram Radhakrishnan was registered as a valuer for plant and machinery under IBBI but was expelled from the IOV Registered Valuers Foundation due to multiple compliance failures. The Companies (Registered Valuers and Valuation) Rules, 2017 stipulate that valuers must maintain membership in an RVO to remain eligible for registration.

What's Next: The cancellation of Mr. Radhakrishnan's registration is effective immediately, and no further actions are anticipated unless he chooses to reapply or address his compliance issues in the future.