17.1.19-Companies (Registered Valuers and Valuation) Rules, 2017
19. Committee to advise on valuation matters.─
(1) The Central Government may constitute a Committee to be known as “Committee to advise on valuation matters” to make recommendations on formulation and laying down of valuation standards and policies for compliance by companies and registered valuers.
(2) The Committee shall comprise of-
(a) a Chairperson who shall be a person of eminence and well versed in valuation, accountancy, finance, business administration, business law, corporate law, economics;
(b) one member nominated by the Ministry of Corporate Affairs;
(c) one member nominated by the Insolvency and Bankruptcy Board of India;
(d) one member nominated by the Legislative Department;
(e) upto four members nominated by Central Government representing authorities which are allowing valuations by registered valuers;
(f) upto four members who are representatives of registered valuers organisations, nominated by Central Government.
(3) The Chairperson and Members of the Committee shall have a tenure of three years and they shall not have more than two tenures