A company, a registered partnership firm or a limited liability partnership may be recognized as an insolvency professional entity, if – (a) its sole objective is to provide support services to insolvency professionals, who are its partners or directors, as the case may be; (b) it has a net worth of not less than one crore rupees;
A partnership entity or a company can be registered as valuer if they have been set up with the objects of rendering professional or financial services including valuation services. In case of Company, it should not be a subsidiary, joint venture or associate of another company or body corporate.
An Insolvency Professional is one who is registered with the Insolvency and Bankruptcy Board of India (IBBI), are enrolled with an Insolvency Agency. They are involved in the dissolution process of an insolvent individual, companies, LLPs or partnerships, and are authorized to act on behalf of such entities
A Registered valuer is an individual (or an entity) who does the work of valuation, is registered with the Authority in accordance with the Registered Valuers and Valuation Rules, and may be registered under one or more asset classes of (i) Land and Building; (ii) Plant and Machinery (iii) Securities and Financial Assets.