Clarification on VRN and New VRIN Requirements for Valuation Reports

The Insolvency and Bankruptcy Board of India (IBBI) now mandates the use of a Valuation Report Identification Number (VRIN) for valuations under the Insolvency and Bankruptcy Code (IBC).

Though Valuation Reference Number (VRN) must still be generated through the IOV RVF portal for all valuation assignments (not limited to IBC cases) because it integrates with the half-yearly M-4 report, autofilling assignment details, and connects with the Valuers Data Interface (VDI) to store valuation data.