The Insolvency and Bankruptcy Board of India (IBBI) on July 10, 2020 has issues the Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020.
Following guidelines have been given:
• Regulation 7(2)(ba) of the IP Regulations mandates that the registration of an IP is subject to the condition that he shall undergo continuing professional education as may be required by the Board. In pursuance of this, the Board has issued the IBBI (Continuing Professional Education for Insolvency Professionals) Guidelines, 2019.
• Rule 12(2)(a) of the Companies (Registered Valuers and Valuation) Rules, 2017 requires that a Registered Valuers Organisation (RVO) shall conduct educational courses in valuation, in accordance with the syllabus determined by the Authority, for its valuer members. In pursuance of this, the Board, being the Authority, has been determining syllabus and reviewing the same from time to time. In its last review notified on March 18, 2020, it specified the syllabus effective from July 01, 2020 for all three asset classes.
• It has been specified, in discussion with IPAs and RVOs, through circulars, guidelines and minutes of monthly meetings with them, that the educational courses and continuing professional education shall be delivered in classroom mode. However, in the wake of COVID-19, it was felt that it would be difficult for RVOs and IPAs to deliver educational courses and continuing professional education through classroom mode due to social distancing norms mandated by the Central Government. To minimize difficulties for the registered valuers the Board, allowed online delivery of courses by RVOs and IPAs and continuing education by RVOs till September 30, 2020.
• Only licensed version of such software shall be used which shall have appropriate security, easy interface, access control mechanisms, audio-visual interaction and enable online tests.
• The Guidelines shall be effective till March 31, 2021, unless rescinded or extended otherwise.
