VALUERS ASSOCIATION ® ITS OBJECTIVES & ACHIEVEMENTS
Valuers Association (Regd.) is registered association under Societies Act and all the members of this association are TECHNICAL DEGREE HOLDERS ONLY. The Bachelor’s degree IN ENGINEERING, ARCHITECTURE OR TOWN PLANNING must be approved by UGC/AICTE as notified from time to time.
The first ever meeting of valuers of Punjab, Haryana, Chandigarh, UP and Delhi was successfully conducted by this association at Ludhiana in mid of year 2015. Around 70 valuers participated in the meeting. After some time, it was known that IBA has asked for objections to “Draft paper on Standardization of Procedure of Empanelment of valuer”. After reading the draft, it was clear that IBA which is not even registered body at any level, want to bye-pass written statute and dictate all Govt. Authorities as per its whims and fences for personal interests. To stop them to do so, the Objections incorporated with decisions held by various court orders, were drafted by Valuers Association (VA) which were appreciated by valuers in various states and Valuers Association succeeded in sending hundreds of Objections through Valuers all across India.
COURT CASES FILED BY VALUERS ASSOCIATION:
WP AGAINST UNCONSTITUTIONAL ACTS OF IBA & BANKS
Even after strong objections sent by valuers to IBA, banks started following the empanelment criteria drafted by IBA. The valuers Association along with 19 petitioners decided to opt for legal course against this serious matter of concern. Our first case in the form of WRIT PETITION against Union of India, IBA and four major Nationalised banks was filed in Hon’ble Punjab and Haryana high court to seek justice against unconstitutional Eligibility Criteria for valuers drafted by IBA and demanded by various banks. The case has been admitted and orders for notice of motion have been given by Hon’ble court.
Valuers Association has given representation to Bank of India against the advertisement by them in regard with eligibility Condition for Valuers. After receiving reply from bank, Valuers Association has filed criminal complaint at Police Station Ludhiana, against concerned officials of Bank of India. Moreover, Bank of India has also been made respondent in this case.
PIL FOR FORMATION OF PROPER FORUM FOR VALUERS
In January, 2016, Bank of Maharashtra & some other banks named a large number of valuers in Caution List. Many valuers from all over India who were named without following the proper laid down procedure contacted Valuers Association. This issue of Caution list has become a serious threat to Valuers profession and banks without following proper laid down procedure. So to seek justice against such harassment Valuers Association adopted legal course and filed a case in the form of PIL in hon’ble Punjab and Haryana High court. The case has been admitted and orders for notice of motion have been given by Hon’ble court.
VA has been provided all necessary document and support at all level to valuers whose names have been unconstitutionally added in IBA caution list and all such valuers have succeeded in getting positive results from high Court. The association through court case is trying to stop unconstitutional acts of Banks and IBA, so that dignity of any valuer is not hurt.
WRIT PETITION FOR PAN INDIA UNIFORM FEE STRUCTURE:
Representation in the form of Legal Notice has been given to State Bank of India and its Local Head Office for demand of PAN INDIA Uniform Fee Structure for valuers. The reply being improper, Valuers Association has filed Writ Petition in Punjab & Haryana High Court against State Bank of India.
PIL AGAINST PUNJAB GOVT. TO FINALISE THE COLLECTOR RATES OF PROPERTIES ARE FOLLOWING WELL LAID PROCEDURE
Valuers Association, after submitting representation to DC, Ludhiana has filed PIL at Punjab & Haryana High Court seeking collector rates near to fair market values of Properties so as to get rid of black money in Real Estate Sector. This step will also help Banks to Sell their NPA properties easily. The case has been admitted and orders of notice of motion have been issued by the court.
WRIT PETITION AGAINST ILLEGAL MASTER IN VALUATION COURSE
Valuers Association, after serving legal notice to University Grant Commission, Annamalai University, Tamilnadu Shivaji University, Kohlapur & ISTAR, Anand, Gujarat has now filed case against all in Punjab & Haryana High Court for conducting unapproved M.Sc./M.Com in Valuation. It is pertinent to mention here that as per Hon’ble Supreme Court of India, in a case title “Prof. Yashpal&anr vs. State of Chattisgarh& others of 2005 AND “Orissa Lift Irrigation Corp. Ltd., vs. Rabi Sankar Patro & ors.” Civil Appeal No.s 17869-17870/2017 on 03-11-2017, it is directed that any course which is not approved by UGC/ AICTE, is Illegal and termed as Null & Void. The case is admitted and notice of motion has been issued by the court
ACTION AGAINST FAKE VALUERS:
After Supreme Court orders in a case title “Orissa Lift Irrigation Corp. Ltd., vs. Rabi Sankar Patro & ors.” Civil Appeal No.s 17869-17870/2017 on 03-11-2017, Valuers Association has written large no. of banks as well as CBDT Head Office at Delhi to remove all persons who are having technical degree through distance education from four Universities as mentioned in the orders. IMPACT: UCO Bank, Union Bank, Punjab National Bank, Allahabad Bank and many others have removed such persons from the list of Empanelled Valuers.
Valuers Association has organized three seminars till date and all the seminars are free of cost for all its members. Certificate of Participation is also issued to all participants at the end of Seminars.
ACTION AGAINST COMPANIES (REGISTERED VALUERS & VALUATION) RULES, 2017
After filing large no. of objections through members of Valuers Association, Office bearers of VA met IBBI Officials on 05-07-2017, discussed the matter and submitted objections to draft notification on Companies (Registered Valuers & Valuation) Rules, 2017. The Office Bearers were invited in the meeting to be head on 301-12017 by IBBI. In the meeting, VA requested IBBI that only technical degree holders should be allowed to practice as Valuer in India for Land & Building as well as Plant 7 Machinery. Mr. Sahoo announced that only Architects, Civil Engineers or Town Planners will be allowed to do the valuation of Land & Building. Since the condition of membership of Private Mediator i.e. RVOs is unconstitutional along with many other issues like Examination for existing Govt. Registered Valuers, Valuation by Foreign Valuers etc., Valuers Association provided all necessary information to various organisations to file WP in respective high courts.
PRESS CONFERENCE AT PRESS CLUB OF INDIA
On July 04, 2018, after working for many days, Valuers Association in joints efforts of Rajasthan Council of Income Tax Approved Valuers, organized Press Conference at Press Club of India with various Valuers Organisations from Gujarat, Delhi, Uttarakhand, UP, Bihar, Delhi NCR, Haryana, Chandigarh etc. to humbly submit their representation to Ministry of Corporate Affairs through Media.
DUTIES OF VALUERS:
Only Valuers Association, after compiling large no. decisions of various high courts as well as CBI Court, has drafted and uploaded Duties of Valuers on its website for use by its members. The same can be downloaded from home page of Valuers Association.
Valuers Association has drafted and submitted the Valuers Bill Petition in Lok Sabha as well as Rajya Sabha. The Office Bearers of VA had meeting with the Joint Secretary, Rajya Sabha regarding the same at Parliament of India. The petition has been forwarded to Ministry of Finance for reply and objections.
AIMS & OBJECTIVES OF VALUERS ASSOCIATION
The main aim of Valuers Association is to unite all valuers at single platform and put efforts into proper recognition of Valuers Profession in India. VA will continue to fight against all serious issues and will leave no stone unturned. VA invites all genuine degree holders to join hands at one common platform to fight against all serious issues. For further details, please send email at firstname.lastname@example.org
UNITED WE WIN
Er. Kulwant Singh Rai Er. Kapil Dev
(President) (General Secretary)