Call for Papers: National Seminar on Promoting Ethics in Valuation Amongst Stakeholders [Aug 23, Ranchi]: Register by June 30

Valuation of assets is required by Banks and Financial Institutions as security, by tax authorities for assessing capital gains, by Court for partition suits and for appointing court receivers, assessing floor prices for inviting bids for auctions or tenders for mining, and arriving at the insurable value of the asset etc.

Valuation is both an art and a science. It requires bankers/ insurers, valuers and advocates to work in tandem to ascertain the existence of assets, its ownership rights and assess realisable value if needed to be sold.

Any valuation exercise has many stakeholders: valuers, bankers, insurers, advocates, state/district government officials property owners, borrowers, neighbours of borrowers of the property etc.

Every step of the way there is chance of fraud – by insiders i.e. employees of the Bank/ Insurance/ Corporate concern and professionals like valuers and advocates, and by government servants (for example in Tahsil and registrars office where ownership documents are filed/ ascertained).

When a fraud is unearthed, charges and counter charges are traded between stakeholders and legal action is initiated against all suspected of involvement.

But surely there is much that can be done to prevent fraud through active involvement of all concerned, including members of professional bodies like Institution of Valuers, Bar Council of India, Financial Institutions/ Banks, and academics amongst others. Hence, there is an urgent necessity for a National Seminar on Promoting Ethics in Valuation Amongst Stakeholders.

The sub themes on which papers are invited are

1. Facilitating ethical valuation and its use: Information Asymmetry, Honest Mistake, Negligence and Fraud

2. Types of fraud (identity, asset and document based, etc) and its impact on fraud prevention strategies

3. Dealing with fraud: Case analysis of actions initiated and the role of stakeholders

4. Overview of legal cases relevant to dealing with unethical valuation

5. Understanding recourse by bankers/ lenders and valuers

Organisers hope to pool learning to evolve an operational guideline for facilitating Ethical Valuation – taking cues from papers submitted, thoughts of organisers and participants – as Seminar synthesis. We shall solicit opinion on it in the plenary. Join us for an enriching discussion.

The National Seminar will start on 23rd Aug. 2015 at 9AM and will conclude at 5:30PM. It will be preceded by a conclave.

Paper submission deadline: July 15, 2015.

Paper selection committee will revert with feedback on selected papers.

Delegate fee (early bird) for Non-IOV members is Rs. 2000/-.

Early bird registration deadline: June 30, 2015.

Professionals, Scheduled Banks, Financial Institutions, Insurance companies, Government departments (Income Tax, Vigilance), Public Sector Units, and private sector entities involved in any aspect of valuation activities directly/indirectly are invited for active participation in the seminar.

Contact: INSTITUTION OF VALUERS (IOV) Ranchi (Jharkhand) Branch
‘Bina’ Hinoo Bridge (E), Ranchi 834002
(Contact: 9431170378 (Secretary, Santtosh Kumar Singh)

About Institution of Valuers

Institution of Valuers (IOV) is a premier organisation of valuation professionals in India, established in 1968. It has over 22000 members across India with different specialisations.

Our members assess immovable property, agricultural lands, coffee/tea estates, standing forests, machinery and electrical equipments, stocks, shares of companies, share of partners of a firm, business assets including goodwill, jewellery and precious stones, works of art, life interest reversions and interests expectancy etc.

IOV is amongst the top five valuers association of the world when membership strength is considered. Know more about IOV at www.institutionofvaluers.net

IOV has 50 branches across India. Institution of Valuers Ranchi (Jharkhand) Branch is amongst its newest branch established on October, 2014. This seminar is the first important national level event that this branch is hosting.

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  1. It is a very good initiative. Wish you all success.

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