But it is a necessary task also, especially when valuation as a procedure in intelligent planning is assuming so much (increasing) importance. This is true for almost everyone who has to plan his finances. It may be, that he is only an individual who is managing his affairs, pay his taxes and remain fairly prosperous in this volatile social and economic conditions. Or it may be, a large complex industrial commercial organization planning its strategy for growth in competitive environment.

In fact, it is this large spectrum and wide social range of human endeavour, influenced by variety of values that fluctuate with changing context of parameters, which makes the subject of valuation – (i) everybody’s concern and yet – (ii) a highly specialized field for experienced professionals.

This booklet is an attempt to cover this wide range and explain, in easy to understand manner, the technical and rather involved professional aspects of the subject. The intention here is to raise the level of awareness, so that, anyone who faces a problem or a question in valuation will respond as a informed person and will take a right decision, engage the suitable professional and in general, be guided correctly towards the ideal solution to his problem or answers to his questions.

The question of government approved or certified valuer-professional is dealt with in detailed manner in following pages. The reason is simple. Theoretically, in India, there is no such thing as Govt. certified or approved professional in the field of valuation. Still, each one of the professional who undertakes the assignment of valuation, invariably calls himself "A Government Approved Valuer". This anomaly is explained at length. So much so, that there may be certain amount of repetition of points. This repetition is intentional and is done in order to clear long standing myths, biases and deliberate attempts at confusion created by vested interests. It is necessary to repeat some points and explain the same thing from different angles and in different contexts.

New situations are confronting us with increasing frequency. The developing economic, industrial, commercial and socio-political forces demand new approach everywhere. New legislation is being passed to deal with new problems. This is creating new challenges to professionals and practitioners of valuation techniques. It is therefore imperative for all concerned to adopt a dynamic and resilient, intelligent attitude that will allow us to grasp the significance of emerging trend and use it to the best advantage.

For instance, if we take the case of an organization that desires to dispose off some assets, conventionally, it will engage one professional to undertake valuation and some other to organize its sale through open auction. This, today, is outmoded and will lead to loss of time and may even entail reducing the value of some items as scrap.

Today’s volatile flux needs a ‘valuer-auctioneer’ who will undertake the responsibility of determining fair realisable value and also obtain that value for his clients in a given time schedule.

This calls for a well-knit professional organization that has all the infrastructure and information wherewithal to complete the task and advise the clients on the best course of action. The organization takes it as a package assignment and names its fees on the correct assessment of the whole. This leads to total transparency in the deal, total satisfaction of clients in the deal and total benefits to everyone involved.

I am sure this publication shall be useful to all the readers and make them better informed on valuation.

Shrikant Vasant Joglekar
Managing Director