The ICMAI Registered Valuers Organisation invites Expression of Interest (EOI) for empanelment of Faculty

About ICMAIRVO

The Institute of Cost Accountants of India, established in 1944, was brought under an Act of Parliament in 1959, Govt of India, as a statutory professional body to impart education and training in the field of Cost and Management Accountancy. The Institute is under the administrative control of Ministry of Corporate Affairs, Government of India. The Institute is the 2nd largest Cost & Management Accounting body in the world and the largest in Asia, having approximately 5,00,000 students and 80,000 members all over the globe. The Institute is a founder member of the International Federation of Accountants (IFAC), the Confederation of Asian & Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA). The Institute is also a member of International Valuation Standard Council since 2010.

The Institute of Cost Accountants of India has promoted ICMAI Registered Valuers Organisation (ICMAIRVO), a section 8 company under the Companies Act, 2013, which has received the recognition of Insolvency and Bankruptcy Board of India (IBBI) [vide RVO Recognition No. IBBI/RVO/2018/005] to conduct educational courses for three different asset classes - Land & Building, Plant & Machinery and Securities or Financial Assets.

The Companies Act, 2013 brought into the light the concept of ‘Registered Valuers’ to regulate the practice of Valuation in India and to standardize the valuation in line with International standards. Consequentially, The Ministry of Corporate Affairs (MCA) notified the provisions governing valuation by registered valuers [section 247 of the Companies Act, 2013 (the Act)] and the Companies (Registered Valuers and Valuation) Rules, 2017 (the Rules), both to come into effect from 18 October, 2017.

Terms of Honorarium

As per the norms of ICMAIRVO.

Submission of EOI

EOI should be submitted through online.
ICMAIRVO reserves the right to accept or reject the EOI.

How to Apply

You are requested to kindly apply online in ICMAIRVO prescribed format for Expression of Interest.

Sex



Qualification (A candidate may choose more than one qualification) *

Subject Preference

National Income Accounting
Basics of Fiscal Policy
Basics of Monetary Policy
Understanding Business cycles

Finance
Basic Concepts of Finance
Decisions in Finance

Financial Statement Analysis
Assets, Liabilities & Equity and Incomes & Expenses
Performance Analysis
Capital Structure Analysis
Credit Analysis
Cash Flow Analysis

Model Code of Conduct for Registered Valuers as notified by Ministry of Corporate Affairs (MCA) under the Companies (Registered Valuers and Valuation) Rules, 2017

Ethical considerations under terms of engagements

The Companies Act, 2013
Chapter IV - Share Capital and Debentures
Chapter XV - Compromises, Arrangements and Amalgamations and the Companies (Compromises, Arrangements and Amalgamations) Rule, 2016

Chapter XVII- Registered Valuers
The Companies (Registered Valuers and Valuation) Rules, 2017
Chapter XX -Winding Up

The Indian Contract Act, 1872
Offer, Acceptance and Revocation
Legal Contract, Void and Voidable Contracts
Contingent Contracts
Performance of Contracts
Consequences of Breach of Contract - Agency Agreements

The Sale of Goods Act, 1930
Contract of Sale
Definition of Goods
Price of Goods
Conditions and Warranties
Unpaid Seller

The Transfer of Property Act, 1882
Definition of Immovable Property
Transfer and Sale of Property
Rights and Labilities of Buyer and Seller
Mortgage of Property
Rights and Liabilities of Mortgager and Mortgagee
Gift of Immovable Property
Lease

The Indian Stamps Act, 1899
Basics of Indian Stamp Act
Valuation for Duty
Instruments on which duty is levied

The Income Tax Act, 1961
Taxes on Individuals
Taxes on Companies
Heads of Income- Income from Salary, Income from House Property, Income from Profits and Gains of Business or Profession, Income from Capital Gains and Income from Other sources

Clubbing and Set off provisions
Double Taxation Avoidance Agreement (DTAA)
Taxation on transfer of business
Transfer pricing issues
Employees’ Stock Option Plan or Scheme

The Insolvency and Bankruptcy Code, 2016 (IBC) and Regulations
Part I of IBC: Preliminary
Part-II of IBC: Insolvency Resolution and Liquidation for Corporate Persons
The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002)

Indian Accounting Standard (Ind AS) 113, Fair Value Measurement

Meaning of Value
Premise of Valuation
Purpose of Valuation
Valuation Standards
Valuation Engagements-Scope of Work
Valuation Process
Valuation Report
Documentation
Cost Approach
Market Approach
Income Approach

Cost Approach
Market Approach
Income Approach

Equity / Business Valuation
Analysis of Business Environment
Entity’s Business Strategy Analysis
Business Combinations- Amalgamation, Merger, Demerger, Arrangement & Restructuring
Forecasting
Cash flow Analysis
Appropriate Cost of Capital / Rate of Return

Valuation Adjustments

Fixed Income Securities
Types of Fixed Income Securities
Types of Different Debt Instruments
Terms used in Fixed Income Securities
Credit Rating of Bonds
Embedded Options
Interest Rate Derivative Products
Related Fixed Income Money Market and Derivatives Association of India (FIMMDA) Circulars

Option Valuation
General Principles
Option Valuation Models: Black and Scholes Valuation Methodology, Black and Scholes Merton Option Pricing Method, Binomial Tree Method, Monte Carlo Simulation

Valuation of other Financial Assets and Liabilities

Intangible Assets
Nature and Classification of Intangibles
Identification of Nature of Intangible Assets
Purpose of Intangibles Valuation
Valuation Approaches

Situation Specific Valuation
Distressed Asset Valuation
Start-up Entities Valuation
Valuation of Small and Medium Enterprises
Valuation of Cyclical Firms
Valuation of Investment Entities
Valuation for Insurance Coverage

The Securities and Exchange Board of India Regulations
The SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009– Chapter VI-A and Chapter VII
The SEBI (Prohibition of Insider Trading) Regulations, 2015
The SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
The SEBI (Delisting of Equity Shares) Regulations, 2009
The SEBI (Share based Employee Benefits) Regulation, 2014: Employee stock option schemes, employee stock purchase schemes and stock appreciation rights schemes

RBI and FEMA Regulations
FEMA (Transfer or Issue of Security by a Person Resident Outside India), Regulations, 2017
Foreign Direct Investment (Pricing Guidelines)
Direct Investment by Residents in Joint Venture/ Wholly Owned Subsidiary abroad.
Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks.
Guidelines on Sale of Stressed Assets by Banks.

Miheer H. Mafatlal Vs. Mafatlal Industries Ltd. (1997) 1 SCC 579
Hindustan Lever Employees' Union Vs. Hindustan Lever Limited And Ors.
Brooke Bond Lipton India Ltd.td. [1999] 98 Comp Cas 496 (Cal)
Dinesh Vrajlal Lakhani Vs. Parke Davis (India Ltd.) (2005) 124 Comp Case 728 (Bom HC)
Dr. Mrs. Renuka Datla Vs. Solvay Pharmaceutical B.V. & Ors.
G.L. Sultania and Another Vs. The Securities and Exchange Board of India

This section will have two case studies to test the ability to apply
Valuation techniques. There will be two comprehensions narrating transaction based on which questions will be asked.

Experience (Years)

(A) Academic Experience:

5 - 10 years
10-15 years
15 years & above

(B) Industry/Professional Experience:

5 - 10 years
10-15 years
15 years & above