Is RBI Supporting Fake Valuers? Valuers Association to Hold Peaceful Protest at Chandigarh

Chandigarh, 4th March: Valuers Association, a registered body with all its fellow members as Approved Valuers by Government of India is going to hold peaceful protest against silent behaviour of Officials of Reserve Bank of India on Qualification of any person to become Approved Valuer for Secured Creditors (Banks, Financial Institutions & NBFCs).

Er. Kapil Arora, General Secretary & Er. Kulwant Singh Rai, President informed that we have been continuously intimating Reserve Bank of India at Mumbai regarding FAKE DEGREES as well as Companies doing Valuations for Banks, Financial Institutions & NBFCs. The Banks are accepting these valuation which is unlawful and against Act of Parliament. Such Valuations are illegal, Null and Void.  

However, despite various reminders and one Peaceful protest held by Valuers Association on 9-1-2019, RBI hasn't moved an inch to clarify on above issue. Er. Shri Ram Bakshi & Ar. Ramandeep Singh Khanna informed that we have mentioned in our reminder that in case, no proper clarification in writing is received from RBI, Valuers Association will again hold peaceful protest in front of Regional Office of RBI at Sector 17, Chandigarh on 5th and 6th March from 11 AM to 3 PM.

Since no reply is received from RBI till date, Valuers Association will hold peaceful Protest tomorrow in front of RBI as per the schedule. Er. Sanjay Verma, Sr. Vice President & Er. Sunil Puri, Vice President informed that only 2 to 3 Valuers will sit on peaceful Protest (as per Fundamental Right guaranteed under Constitution of India) at two different places in front of RBI, Centra Vista, Sector 17 at Chandigarh without interrupting or creating any nuisance or inconvenience to Public.

Er. Satyajit Dhir, Vice President & Er. Mohit Jain told that as per Supreme Court Directions, Peaceful Protest is fundamental right of Citizens of India and we have held peaceful protest without interrupting or causing nuisance to the public and once again our protest will be peaceful as per law. We have already informed the concerned Police Station in this regard too.