Preliminary analysis by COE

RVO Estate Managers & Appraisers Foundation | IBBI RECOGNISED RVO

02-Jul-2020


Checking Report of XXXXXXXXXXXXX

 

Corporate Debtor : XXXXXXXXXXXXXXX  (assets  - vehicle Eicher 11.10 – 2 Nos.)

 

Resolution Professional : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

 

Sl.

Report Content (requirement set out in IVS)

Compliance

Remarks

1

Identification of the Valuer

Partial

Mentioned name of firm only, without its constituent, IBBI Registration No., category

 

2

Identification of the Client & any intended users

Yes

Mentioned

3

Purpose of Valuation

 

Yes

Mentioned under Purpose of Valuation

4

Identification of the assets or liabilities valued

Yes

Mentioned under Particulars of Vehicle

 

5

Basis(es) of value used

Yes

Mentioned in point 3 

 

6

Valuation date/Inspection date

Partial

Mentioned Inspection date 19/12/2019 and again Inspection on 20/12/2019 contradicts.

Further, not mentioned the resolution commencement date vis-à-vis valuation date

 

7

Extent of investigation

Yes

Mentioned under Particulars of Vehicle

8

Nature & sources of inspection relied upon

 

Yes

Mentioned under Particulars of Vehicle

9

Assumptions and special assumptions 

Yes

Mentioned in point No. 4d

 

10

Restrictions on use, distribution and publication of the report

No

 

 

Not mentioned

11

Confirmation that the Valuation has been undertaken in accordance with the IVS

No

 

Not Mentioned

12

Valuation approach and reasoning

Partial

 

 

Mentioned in Point No. 2 and 3   

 

13

Amount of the valuation

Yes

 

Mentioned Fair Market Value and Liquidation Value

 

14

Date of valuation Report

No

 

Not mentioned

15

Commentary on material uncertainty in relation to the valuation

No

 

Not mentioned

16

A statement setting out any limitations on liability that have been agreed

No

 

Not mentioned

 

 

 

 

 

 

Checking Report of Mr. XXXXXXXXXXXXXXXXXXXXXXXX

 

Corporate Debtor : XXXXXXXXXXX (mfr. of parts for pollution control equipments, railway coaches etc. ) 

 

Resolution Professional : XXXXXXXXXXXXX – IBBI/IPA-001/IP-P00446/2017-18/10789

 

Sl.

Report Content (requirement set out in VPS 1)

Compliance

Remarks

1

Identification of the Valuer

Yes

Mentioned under Executive Summary

2

Identification of the Client & any intended users

Yes

Mentioned under Executive Summary

 

3

Purpose of Valuation

 

Yes

Mentioned under Purpose of the Engagement

4

Identification of the assets or liabilities valued

Partial

Mentioned under Description (item wise in tabular form) but around 50% assets termed   ‘Plant and machinery’, ‘Asset’ (not classified)

 

5

Basis(es) of value used

Yes

Mentioned under Basis of Valuation

6

Valuation date/Inspection date

Yes

Mentioned under Resolution commencement date and Inspection date

 

7

Extent of investigation

Yes

Mentioned under Basis of Valuation

8

Nature & sources of inspection relied upon

 

Partial

Apparent from Fixed Asset Registrar (FAR). Further all relied upon their original cost and arriving Fair value without Price Indexation

 

9

Assumptions and special assumptions 

Yes

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

 

10

Restrictions on use, distribution and publication of the report

Yes

 

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

11

Confirmation that the Valuation has been undertaken in accordance with the IVS

Yes

 

Mentioned under para Compliance

12

Valuation approach and reasoning

Yes

 

 

Mentioned under Approach of Valuation

13

Amount of the valuation

Yes

 

Mentioned Fair Value and Liquidation Value

 

14

Date of valuation Report

Yes

 

Mentioned Report date

15

Commentary on material uncertainty in relation to the valuation

Yes

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

16

A statement setting out any limitations on liability that have been agreed

Yes

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

 

General

 

Requires finish stock (railway coaches’ parts) grouped/valued separately.

Further, how finish stock condition of the assets specified ‘old and used’ as of other machinery assets?    

 

 

 

 

Checking Report of Mr. XXXXXXXXXXXXXXXXXXX XXXXXXXXX

 

Corporate Debtor : XXXXXXXXXXX  (mfr. of steel bars and rods of construction grade)

 

Resolution Professional : Mr. XXXXXXXXXXXXXXXXXX XXXXXX

 

Sl.

Report Content (requirement set out in IVS)

Compliance

Remarks

1

Identification of the Valuer

Yes

Mentioned under Executive Summary

2

Identification of the Client & any intended users

Yes

Mentioned under Executive Summary

 

3

Purpose of Valuation

 

Yes

Mentioned under Purpose of the Engagement

4

Identification of the assets or liabilities valued

Yes

Mentioned under Premise of Value

5

Basis(es) of value used

Yes

Mentioned under Basis of Valuation

6

Valuation date/Inspection date

Yes

Mentioned under Resolution commencement date and Inspection date

 

7

Extent of investigation

Yes

Mentioned under Basis of Valuation

8

Nature & sources of inspection relied upon

 

Partial

Sources Not mentioned in arriving current replacement cost / scrap value of the assets

 

9

Assumptions and special assumptions 

Yes

Mentioned in Annexure under Assumptions, Limiting Conditions

 

10

Restrictions on use, distribution and publication of the report

Yes

 

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

11

Confirmation that the Valuation has been undertaken in accordance with the IVS

Yes

 

Mentioned under Compliance

12

Valuation approach and reasoning

Yes

 

 

Mentioned under Approach of Valuation

13

Amount of the valuation

Yes

 

Mentioned Fair Value and Liquidation Value

 

14

Date of valuation Report

Yes

 

Mentioned Report date

15

Commentary on material uncertainty in relation to the valuation

Yes

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

16

A statement setting out any limitations on liability that have been agreed

Yes

 

Mentioned under Assumptions, Limiting Conditions & Important Notice cum Disclaimer

 

General

 

- Scrap value on weight basis or otherwise

   not defined

- Scrap value of asset Lathe machine without

  motor taken more than Lathe machine with

  motor and reason not defined.

- Depreciation over current replacement cost

  of assets Structural rolling mill, Reheat

  Furnace, Cranes taken flat at 10% without

  taken care of their prescribed legal life

 

 

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