TEMPORARY SURRENDERING THE MEMBERSHIP

ANNOUNCEMENT

NOTICE TO ALL CONCERNED MEMBERS TO COMPLETE THE FORMALITIES FOR THE TEMPORARY SURRENDERING THE MEMBERSHIP

Dear Members,

Greetings of the day!

We are pleased to inform you that if you have sent an email for the temporary surrendering of your membership as per RULE-9. Please go through the following rules of the Authority.

Rule 9. Temporary surrender.─ (1) A registered valuer may temporarily surrender his registration certificate in accordance with the bye-laws or regulations, as the case may be, of the registered valuers organisation and on such surrender, the valuer shall inform the authority for taking such information on record.
(2) A registered valuers organization shall inform the authority if any valuer member has temporarily surrendered his/its membership or revived his/ its membership after temporary surrender, not later than seven days from approval of the application for temporary surrender or revival, as the case may be.

XI. SURRENDER OF MEMBERSHIP AND EXPULSION FROM MEMBERSHIP

Temporary Surrender of Membership.
26. (1) A member shall make an application for temporary surrender of his membership of the Organisation at least thirty days before he-
(a) becomes a person not resident in India;
(b) takes up employment; or
(c) starts any business, except as specifically permitted under the Code of Conduct;
and upon acceptance of such temporary surrender and on completion of thirty days from the date of application for temporary surrender, the name of the member shall be temporarily struck from the registers of the Organisation, and the same shall be intimated to the authority.
(2) No application for temporary surrender of membership of the Organisation shall be accepted if –
(a) there is a grievance or disciplinary proceeding pending against the member before the Organisation or the authority, and he has not given an undertaking to cooperate in such proceeding; or
(b) the member has been appointed as a registered valuer for a process under the Companies Act, 2013, and the appointment of another registered valuer may be detrimental to such process.
(3) A member may make an application to revive his temporarily surrendered membership when the conditions for temporary surrender as provided in sub-clause (1) cease to be applicable, and upon acceptance of the application for revival, the name of the member shall be re-inserted in the register of the Organisation, and the same shall be intimated to the authority.

Surrender of Membership
27. (1) A member who wishes to surrender his membership of the Organisation may do so by submitting an application for surrender of his membership.
(2) Upon acceptance of such surrender of his membership, and completion of thirty days from the date of such acceptance, the name of the member shall be struck from the registers of the Organisation, and the same shall be intimated to the authority.

28. Any fee that is due to the Organisation from a member surrendering his membership shall be cleared prior to his name being struck from the registers of the Organisation.
29. The Organisation may refuse to accept the surrender of membership by any member if-
(a) there is any grievance or disciplinary proceeding pending against the member before the Organisation or the authority; or
(b) the member has been appointed as a registered valuer process under the Companies Act, 2013, and the appointment of another registered valuer may be detrimental to such process.

Please ensure the following when sending the Application for Temporary Surrender:

FOLLOWING ARE THE COMPLIANCES FOR THE TEMPORARY SURRENDER OF YOUR MEMBERSHIP OF THE RVO. THE FOLLOWING DOCUMENTS / CERTIFICATES ARE TO BE RETURNED TO THE RVO:-

1. 50 HRS MEP TRAINING CERTIFICATE

2. EXAMINATION PASSED CERTIFICATE

3. CEV MEMBERSHIP CERTIFICATE

4. SELF-ATTESTED COPY OF THE ONLINE CERTIFICATE OF PRACTICE FOR SURRENDERING

5. IBBI REGISTRATION CERTIFICATE

6. DETAILS OF ANNUAL MEMBERSHIP FEES PAID TILL 2024-2025

7. APPLICATION FOR TEMP SURRENDER

8. ANNUAL COMPLIANCES M1, M3 & M4 TILL 31ST MARCH 2025.

9. VALUATION REPORTS COPY IF ANY FOR PEER REVIEW PROCESS.

10. UNDERTAKING FOR NO PENDING ACTION FROM ANY FINANCIAL INSTITUTION.

We kindly request all concerned members to act in accordance with these instructions to ensure smooth processing.

This will allow us to process your application as soon as possible. Thank you for your attention and cooperation.