GENERATION OF VALUATION REPORT IDENTIFICATION NUMBER FOR VALUATION CONDUCTED BY REGISTERED VALUER UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016.

NEW DELHI-12/08/2024: The Insolvency and Bankruptcy Board of India, having its office at 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 issued a CIRCULAR No. IBBI/RV/75/2024 on 12th August, 2024 for the Generation of valuation report identification number for valuation conducted by register valuer under insolvency and bankruptcy code, 2016.

At present, RV/RVES submit the valuation reports upon its completion with or without mentioning any reference number. In order to ensure authenticity and to have a unique reference number of the valuation reports, it has been decided to provide a Valuation Report Identification Number (VRIN) for each valuation conducted under the Code.

Accordingly, an online module, in consultation with Registered Valuers Organisations, has been developed by IBBI. The module has been hosted on the IBBI website at https://www.ibbi.gov.in. The RV/RVE shall access the module with the login credentials already provided by the IBBI. Before the submission of valuation report, the respective RV/RVES shall generate a unique VRIN for each valuation report. The RV/RVE shall mention the VRIN on the front page of the valuation report.

A facility is also being provided on the IBBI website to allow stakeholders to verify the authenticity of the report by using VRIN.

This circular shall be applicable to all the cases where the date of valuation report is on or after the date of this circular. The IPs shall not accept any valuation reports without VRIN in all such cases.

This circular is being issued in exercise of the powers conferred under the provisions of section 196 of the Insolvency and Bankruptcy Code, 2016, Regulations made thereunder, and the Valuation Rules.

You can use the following credentials to access IBBI website:
URL: https://ibbi.gov.in/en/users/login
Username : RV-xxxxx
Password: The old password
The user id pattern for RV login is “RV-(last five digit of the RV Registration number)”
The user id pattern for RVE login is “RVE-00(last three digit of the RVE Recognition number)”
In case the password needs to be changed, you can reset the password using this url ( https://ibbi.gov.in/en/users/forgot-password ).
In order to reset the password using the link, please use the registered email id and select role “RV” or “RVE”, as the case may be. Then email, to reset the password, will be received at the registered email.