Ten points relevant to panel valuers in the observation of the courts

KNOWLEDGE BANK

LET KNOWLEDGE SPREAD

Message from B K Aruna 12.09.2023

Ten points relevant to panel valuers in the observation of the courts :

1. A valuer is not an expert to test the genuineness of the documents.

2. A valuer is not competent to certify the genuineness of the title.

3. A valuer is not responsible to detect the forged document.

4. A valuer has no role or verify the title of the documents.

5. Mere negligence would not make a professional for a criminal offence in the absence of tangible evidence.

6. Liability against a professional arises only when he is an active participant in a plan to defraud the bank.

7. Blacklisting a valuer cannot be done just like that without following the procedure and principle of natural justice.

8. The court may not interfere in cases where banks are not willing to empanel or re-empanel valuers who are facing criminal cases.

9. In the matters of “contract”, unless the orders are wholly arbitrary or unreasonable, the court will decline to exercise its jurisdiction.

10. The valuer cannot quote any internal correspondence (it may be confidential also) of the bank for representing his grievances against the bank.

CTN PRESS