Revaluation of Assets by a Company

As per my understanding no spefic resolution is required for the same.

However if revaluation is connected with some specific purpose than when you pass the desired rsolution for that specific purpose you may cover the process of revaluation in the resolution as an incidental activity to the main purpose.

Wait for other members opinion.

Thanks Ankur

But i just wana know whether any statutory compliance is required before a company can revalue its assets. As in a kind of checklist to be performed or any kind of information or forms to be filed with ROC or discussions in the board meetings etc required????

Thanks in advance

In my opinion, the board resolution must be passed for approval of Revaluation of Assets (because it is not the routine business event) & to COMPLY wid the provision of  Sec211(3C) i.e. compliance of Accounting Standards. The checklist for revalution of assets can be prepared according to the requirements of relevant AS.

as much as i know, there is no need to file any form or document to ROC.

that value can be adopted but the valuation report by registered valuer must be kept by company as evidence/base. Also consider the points that are required by Accounting Standards for revalution of assets.

Thanks Adarsh

That means the report of the valuer which is appointed by the bank is to be kept ?????

Yes, that valuation report is sufficient to prove the appropriate valuation because that valuer is independent from bank, he is just empanelled)