At the first Global Valuation Summit organized by the Institute of Valuers (IOV) in New Delhi, the chairman of the Insolvency and Bankruptcy Board of India (IBBI) said that a statutory body should be established for valuers in that country. “IBBI is looking for valuers who are part of a setup that has accountability, responsibility and the necessary skillset to manage their mandates,” said MS Sahoo, according to a release. “This is an important aspect of IBBI to have fair valuations of businesses and assets.” The IBBI is the authority that recognizes registered valuers’ organizations (RVOs), registers valuers, and monitors their conduct and performance in relation to valuation assignments under the country’s Insolvency and Bankruptcy Code (IBC) and the Companies Act. Currently, there are 1,350 registered valuers (for real estate, machinery and equipment, and securities or financial assets) who are registered through 11 RVOs.