Section 27 in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
27. [ Appointment of registered valuers. [Substituted by Notification No. IBBI/2017-18/GN/REG024, dated 6.2.2018 (w.e.f. 30.11.2016).]
- The resolution professional shall within [seven days of his appointment, but not later than forty-seventh day from the insolvency commencement date], appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor in accordance with regulation 35:Provided that the following persons shall not be appointed as registered valuers, namely:(a)a relative of the resolution professional;(b)a related party of the corporate debtor;(c)an auditor of the corporate debtor at any time during the five years preceding the insolvency commencement date; or(d)a partner or director of the insolvency professional entity of which the resolution professional is a partner or director.]
