The resolution professional shall within three days of his appointment, appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor:
Provided that the following persons shall not be appointed as registered valuers, namely:-
(a) a related party of the corporate debtor;
(b) an auditor of the corporate debtor at any time during the five years preceding the pre-packaged insolvency commencement date;
(c) a partner or director of the insolvency professional entity of which the resolution professional is a partner or director; or
(d) a relative of the resolution professional or of a partner or director of the insolvency professional entity of which the resolution professional is a partner or director.
Inserted vide Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021 dated 09.04.2021. To view the notification, Click Here.