All India Valuers Association's National Seminar on "Valuation of Assets"@ IIA,Kanpur ,12/11/22.Hosted by the All India Valuers Association(AIVA) at Indian Industries Association, Kanpur this National Seminar saw the participation of more than 150 Members along with other professionals engaged in the field of Valuation. A Souvenir along with 10 important Papers pertinent to Valuation was released which got wide local press coverage

1. History of Valuation in India
Vr. Mainak Ghosal (Prof):
CBDT/IBBI Registered Valuer &
Consultant in the Indian Banking &
Construction Industry
AIVA National Seminar, Kanpur,12th November 2022

2. Organization of the Talk
1.What’s your USP ?
2.Values & Value Systems
3.Values taught by Indian Epics
4.Indian Value Systems
5.Ancient Theory & Practice of Valuation(L&B)
6.Valuation Principles from Arthashastra
7.What do other Scriptures say ?
8.Development of Valuation
9.The Estate Duty Act,1953
10.The Wealth Tax Act,1957
11.The Valuation Professional Bill,2008
12.The Companies Act,2013
13.Scope under the Companies Act,2013
14.Companies (Registered Valuers & Valuation) Rules,2017
15.Draft Valuers Bill
16.Conclusions
AIVA National Seminar, Kanpur,12th November 2022

3. What’s your USP ?
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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4. Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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5. Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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6. Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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7. Ancient Theory & Practice of Valuation(L&B)
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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8. Valuation Principles from Arthashastra
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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9. What do other Scriptures Say?
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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10. Development of Valuation
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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11. The Estate Duty Act,1953
• Earmarked the evolution of the Valuation profession in
India
• Concept of ‘Market Value’ introduced for the 1st time
• Provision for the regulation of the Valuers
• Central Government within 12 months, appoint a sufficient
number of qualified persons to act as Valuers
• Fix a scale of charges for the remuneration of Valuers
• But……there were neither specific provisions on
comprehensive Valuation methodologies nor were there
any Standards of Valuation or Bases of Valuation
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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12. The Wealth Tax Act,1957
• Concept of Fair Market Value introduced
• Rule 11UA / 11UAA prescribes valuation
methodology for arriving at FMV of
immovable property, jewelry, shares
• Even courts referred to the concept of FMV
• E.g.:K.P. Varghese vs Income Tax, AIR
1922, 1982 SCR (1) 629
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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13. Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
11

14. The Companies Act,2013
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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15. Scope under the Companies Act,2013
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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16. Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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17. But when the Sun will finally rise…
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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18. Conclusions: Unity in Diversity
• Valuation ecosystem’s sustainability lies on our future
generation
• Need to develop a sustainable educational system in
Valuation field
• Need good books by local Authors on Valuation
• Need UGC-approved Valuation Courses
Vr.(Prof.)Mainak Ghosal BSc, BTech, MSc, MBA,ME(Struct), LLB,PhD
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19. Thank
You!