Valuers Day celebrated

The Chandigarh Branch of the Institution of Valuers celebrated Valuers Day which falls on 2nd October,2012 and also conducted workshop on the valuation of property.

The function was inaugurated by V K Kashap,Dy General Manager (Retd.),Oriental Bank of Commerce. Kashap appreciated the role played by the Valuers and stressed that the valuer should work with knowledge,courage and honesty.

Chairman B L Luthra appreciated the role played by the institution of Valuers in serving the society and financial institutions.

He said,NPAs are increasing and have cost Rs. 1,37,000 crores. What is the cause of bad loans,NPAs and bad valuation reports? Who are responsible for the huge NPAs? This issue needs thorough investigation and appropriate remedial measures. The recent system is responsible for all this mess and for the huge NPAs. The important pillars of Management i.e.,Proper Planning,Monitoring,Coordination and Accountability are badly missing in the present system.

Tarsem Garg delivered a lecture on Valuation of Property and BL Luthra on Scope of Food and Fruit Processing Units in Punjab,Haryana and Himachal Pradesh. Valuers also discussed the important challenges being faced by them and society.

The valuers from Chandigarh,Punjab,Haryana and Himachal Pradesh attended this function.

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