IEI has entered into a new paradigm of learning and is one of the first engineering societies to offer a multitude of contemporary learning platforms. At its centenary year, IEI has taken the lead for quality online learning to usher in a new era in digital education for engineering professionals in India!
As you are aware, IEI and The Institute of Cost Accountants of India have signed a MoU on 27 May 2019 to jointly conduct technical programmes and professional courses for the benefit of Members. The Institute of Cost Accountants of India, Statutory Body under an Act of Parliament has promoted ICMAI Registered Valuers Organisation (RVO), a section 8 company under Companies Act, 2013, which is a recognized RVO under IBBI(Insolvency & Bankruptcy Board of India) to conduct educational courses on three different asset classes - Land & Building, Plant & Machinery and Securities or Financial Assets.
The valuation profession has a long history in India. Different statutes and authorities require valuation for different purposes and often prescribe the matter of such valuation. There have been several attempts in the past to develop holistically an institutional arrangement that develops and regulates the profession of Valuers who can estimate the value of any asset with full responsibility. It took a concrete shape with enactment of the Companies Act, 2013. Section 247 of the Act provides that where valuation is required to be done under the provisions of the Act, it shall be valued by a person who, having the necessary qualifications and experience, and being a Valuer member of a Registered Valuer Organisation (RVO), is registered as a Valuer.
The Central Government notified the commencement of Section 247 of the Companies Act, 2013 with effect from 18th October, 2017. It has also notified the Companies (Registered Valuers and Valuation) Rules, 2017 (Rules), which provide for a complete framework for development and regulation of the profession of Valuers and the manner of valuation, including valuation standards and Code of Conduct for registered Valuers. The Central Government delegated its powers and functions under section 247 of the Act to the Insolvency and Bankruptcy Board of India (IBBI) and specified the IBBI as the Authority under the said Rules.
The Institute of Cost Accountants is also offering a discount of 20% on the online 50 hrs training course exclusively to the corporate members of IEI.
So here is a wonderful opportunity for all eligible engineering professionals to enhance knowledge in the domain of Valuation (Plant & Machinery, Land & Building) for professional enhancement and employment opportunities!
Eligibility Criteria:
| Courses | Eligibility/Qualification | Experience in specified discipline. |
| Plant and Machinery |
(i) Graduate in Mechanical, Electrical, Electronic and Communication, Electronic and Instrumentation, Production, Chemical, Textiles, Leather, Metallurgy, or Aeronautical Engineering, or Graduate in Valuation of Plant and Machinery or equivalent; |
(i) Five years |
| (ii) Post Graduate on above courses. | (ii) Three years | |
| Land and Building | (i)Graduate in Civil Engineering, Architecture, or Town Planning or equivalent; | (i) Five years |
| (ii) Post Graduate on above courses and also in valuation of land and building or Real Estate Valuation (a two-year full time post-graduation course). | (ii) Three years | |
| Any other asset class along with corresponding qualifications and experience in accordance with rule 4 as may be specified by the Central Government. | ||
| Note.- The eligibility qualification means qualification obtained from a recognized Indian University or equivalent Institute whether in India or abroad." | ||