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With a population of over 1.25 billion India is one of the biggest and fastest growing economies in the world - standards and professionalism are of significant importance.In the absence of standards of business valuation the valuation is more on an art based on the professional experience of the valuer rather than a science based on empirical studies and logics.At present there are no prescribed standards and codes for valuation in India, in many cases the valuation lacks the uniformity and generally accepted global valuation practices.Though the value of a business can be objectively determined employing valuation approaches, this value is still subjective, dependent on buyer and seller expectations and subsequent negotiations and use of professional judgment is an essential component of estimating value. New laws regarding Valuation are being discussed and is in the process of being drafted by government bodies. At the summit, we will have a discussion on the requirement and the importance of these laws. We will try to find out how these proposed laws will impact the current practices of the valuation profession.
We have invited experts from International Bodies like IVSC,IIBV, stakeholders from India, including different regulators, corporations and corporate affairs ministry to discuss the future of Valuation in India. We also intend to invite Private Equity and Startups professionals to discuss the significance of valuation for Startups. We are expecting a 200+ audience to be part of this summit.
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector standards organisationincorporated in the United States and with its operational headquarters in London, UK. IVSC develops international technical and ethical standards for valuations on which investors and others rely.
IVSC is responsible for developing the International Valuation Standards and associated technical guidance. To ensure that the public interest is effectively protected it also engages with other bodies active in the regulation of the financial markets to ensure that valuation issues are properly understood and reflected.In developing its standards and technical guidance, IVSC follows a process of issuing discussion papers and exposure drafts for public comment.
As of 2017, the IVSC has over 70 organisations in membership from around the world. The organisations in membership accredit and regulate the conduct of individual valuers who specialize in the valuation of many different types of assets and liabilities, such as business interests, real property, intangibles, capital equipment and financial instrumentsThe International Valuation Standards (IVS) are international standards that consist of various actions required during the undertaking of a valuation assignment supported by technical information and guidance. The IVSC Standards Board is responsible for the development and maintenance of the International Valuation Standards.
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| Date | 3rd May 2018 |
| Event Hall | Ball Room |
| Venue | Westin Mumbai Garden City,Goregaon East, International Business Park, Oberoi Garden City, Mumbai, Maharashtra 400063 |
| 9.00 AM - 10.00AM | Registeration and Welcome Remarks |
| 10.00 AM-10.15 AM | Keynote address by Chief Guest |
| Speaker | Shri G. N. Bajpai (Former Chairman SEBI) |
| 10.15 AM - 11.00 AM | The need for regulation for the business valuation profession. |
| i. Importance of valuations in financial reporting ii. Valuation standards – whose standards for technical methodologies, ethics and professionalism, performance standards iii. Proposed regulations in India iv. The future of the business valuation profession v. International and India designations vi. The ecosystem of the BV profession in India vii.Protecting the public - Peer reviews and complaints processes |
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| Moderator | Andrew Strickland - Consultant, Scrutton Bland Chartered Accountants |
| Panelist | i.Chander Sawhney- Partner & Head, Corporate Professionals ii. Rajesh Khairajani - Partner, KNAV iiiShrenik Baid - Partner, Deloitte India iv. Darshana Kadakia- Partner, Grant Thornton v. Sridhar Rao - Managing Partner, Tuscel Capital |
| 11.00 AM - 11.15 AM | Networking Morning Tea Break |
| 11:15 PM-12:00 PM | Best Practices in Business Valuations |
| i. Valuation methodologies and challenges ii. Determining the cost of capital in India iii. Complex financial instruments iv. Contingent consideration |
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| Speaker | i.Ray Moran - Executive Director, IIBV |
| Panelist | i.Bharath Ramnani - Valuation Head - Aranca ii.Pratik Singhi - Partner, Nine Rivers Capital iii.Rajesh Khairajani - Partner, KNAV iv.Darpit Kanadia - Partner,Baker & Tilly DHC v.Gagan Ghai - Director, Crest Capital |
| 12:00 PM - 12:15 PM | Presentation - Valuation of Blockchain based companies and ICOs |
| Sanjay Mehta - Investor, Core Media | |
| 12:15 PM-12:30 PM | Q&A |
| Sandesh Hegde- SHCA & Akash Kakkad -XinFin | |
| 12.30 PM - 1.30 PM | Luncheon |
| 1:30 PM - 2:15 PM | Panel lll : Valuation of Start-ups |
| i. How is it different from other business valuations? | |
| ii. Key issues and why they matter | |
| iii. Is valuation of Techstartups a bubble? | |
| Moderator | Raj Mishra - CEO, I-Deals Network |
| Panelist | Shashank Ranadev - Director, Z Nation Labs Pradeep Rathi - Managing Director, CSI Incubation Sandesh Hegde - Founder, SHCA Dr Annirudh Malpani - Angel Investor, Malpani Ventures Amit Mehra - Principal, Unicorn Ventures |
| 2:15 PM - 3:00 PM | Panel lV : Valuation in M&A transactions |
| Business Valuation in M&A deals | |
| How M&A transactions are diff from a PE transaction? What are the valuation drivers? | |
| Different requirements of valuations in a M&A deal – price discovery, regulatory, accounting, tax, stock markets | |
| Key deal breakers in M&A transactions? | |
| Role of Investment Bankers in price discovery for M&A transactions? | |
| How identify and track the KPI in M&A deals? | |
| Moderator | Darpit Kanadia - Partner,Baker & Tilly DHC |
| Panelist | Paritosh Basu - Senior Professor and Chairperson MBA (Law) NMIMS Vaibhav Manek -National Lead Partner, KNAV Amit Jain - Partner, KPMG India B. Sridhar Rao - Managing Partner,Truscel Capital Nalin Kumar - Head Investment Banking, IDBI Capital |
| 3:00 PM - 3:45 PM | Panel V : Private Equity perspective on Valuation |
| i.What factors influence valuation in PE investments? | |
| ii.What differentiates evaluation between an Angel Investor, VC and PE? | |
| iii.Key deal breakers in PE transactions specific to valuation?? | |
| Moderator | Pratik Singhi - Partner, Nine Rivers Capital |
| Panelist | Amit Mehra - Principal, Unicorn Ventures Dinesh Tiwari - Managing Director, Broad Peak Capital Advisors LLP Vaibhav Manek -National Lead Partner, KNAV Paritosh Basu - Senior Professor and Chairperson MBA (Law), NMIMS Piyush Goenka - Partner, Tano Capital Abhishek Sharman - Founder & MD, Carpediem Capital |
| 3:45 PM-4:00 PM | Networking Evening Tea Break |
| Panel VI: Valuation in Insolvency and the Bankrupcy Code | |
| 4.00 PM-4.45 PM | i.Role of Registered Valuers |
| ii.Distressed Asset Valuation | |
| iii.Litigation arising under the I & B Code | |
| Moderator | Gagan Ghai - Director, Crest Capital Group |
| Panelist | Sahil Narula - Director, Rakesh Narula & Co. Sorabh Kataria - Partner, EY India Ravi Prakash Ganti - Insolvency Resolution Professional Rajkumar S. Adukia - Chairman, Competent Valuations |
| 4:45 PM - 5.00 PM | Q & A |
| 5.00 PM | Closing Remarks |
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