Calcutta Business School (CBS)-Institution of Valuers (IOV)
tie up for management development programme
Kolkata, April 2012: Institution of Valuers (IOV), India's leading body of valuation professionals and one of the largest valuers' associations in the world, has signed a memorandum of cooperation with Calcutta Business School (CBS) to jointly conduct training programmes, projects, seminars and workshops in new learning area like `Valuation' at its Management Development & Research Centre (MD&RC) in Kolkata.
MD&RC, located in the Calcutta Business School premises, provides insights, expertise and training, would now incorporate `valuation' as a new area of specialisation in the B-School's Management Development Programme (MDP). CBS is promoted by the 90-year-old Shikshayatan Foundation with the support of leading industrialists like Mr S K Birla, Mr B M Khaitan, Mr B K Jhawar and others.
“The tie-up with Institution of Valuers is a unique initiative since valuation as a concept is not known or practised in the Indian industries. Now-a-days professional training on valuation is essential for the industry as a whole,” said Dr Goutam Sengupta, COO and Vice President, Videocon Group.
“This is a very special alliance that has come at a very opportune moment as we are anticipating a major demand for a new generation of management cadres in the years ahead who would also be expert approved valuers. The role of valuers would also earn greater respect and prestige through the next generation of management cadre,” said Mr P K Thiagarajan, President of Institution of Valuers.
The cooperation, which is more on the lines of a knowledge partnership, would enable the industry participants in MDPs conducted by CBS. The management students of CBS would gain insights in a new area of expertise which has so far been the exclusive domain of qualified approved valuers. Approved valuers are professionals who are trained to evaluate properties, plant, machinery and assets etc., under the aegis of IOV and other such expert bodies. Valuation techniques ascertain the potential value of an asset in an ever changing external environment as value is always determined based on impact of the market scenario on the asset in question.
CBS students completing the AICTE-approved two-year PGDM course have been placed in top companies like Danieli India, HDFC Bank, Mjunction, Eveready, McLeod Russel, IFB, Wipro GE, McNallyBharat, Videocon, NIIT, Goodricke etc. CBS' cooperation with new knowledge partners like IOV would further broaden their horizon.
Concerned by the rising non-performing assets (NPAs) and wrong valuation or under-valuation, the Reserve Bank of India (RBI) has made it mandatory for all banks to value the assets mortgaged as securities every three years, thereby increasing the responsibility of valuers.
This has created a demand for a large pool of trained approved valuers in India. Institution of Valuers, which has now over 22,500 members across 46 branches in the country, has been given the mandate to train empanelled valuers of banks across the country and also cater to the demand for providing trained valuers.
Valuers are like the `eyes and ears' of bankers who take decisions worth thousands of crores of rupees based on their opinion while valuing assets. Valuation of an asset is a crucial aspect of the techno-legal process of the government.
The job of a present-day valuer has become more intricate owing to advancement in technologies which has vastly reduced the margin for error. It is also becoming an important aspect of management decisions and planning.
“A two-day strategy workshop on Valuation Management: Unlocking the True Value of the Asset was held at the Management Development & Research Centre (MDRC) wing of CBS recently where we had also sent our participants,” said Mr Dipankar Roy, Executive Director, Consulting Engineering Services, a premier Real Estate Consulting Firm in Kolkata.
The importance of valuation can be gauged from the fact that industries often make wrong judgments on valuation, thereby landing into financial disorder. A glaring example of such misjudgment was the subprime crisis in the US market which resulted in a global economic chaos.
Calcutta Business School (CBS) is a premier B-School of Kolkata offering students two-year residential AICTE-approved Post Graduate Diploma in Management (PGDM) programme at its sprawling 15-acre modern campus on the outskirts of Kolkata. In addition to world class full-time faculty, a team of outstanding distinguished faculty and visiting professors from leading B-Schools of USA, UK and Australia conduct academic courses.
About Calcutta Business School: Calcutta Business School commenced its journey in July 2008. The fully residential state-of-the-art infrastructure is located on a sprawling 15-acre eco friendly campus on the outskirts of Kolkata which also houses a Management Development & Research Centre. Equipped with a modern infrastructure and AICTE-approved innovative curriculum, Calcutta Business School has emerged as one of the leading B-Schools of eastern India.