About the book
Ready Reckoner for Valuers is a practical guide providing the requirements of
valuation under Companies Act, 2013, Income Tax Act, 1961, IBC, 2016, Ind
AS, FEMA, 1999 and SEBI Regulations.
This book includes theoretical as well as practical insights on valuations under
relevant statutes along with case studies and comparable analysis presented in a
tabular format to make it simple and easy to understand.
It is strived to equip the readers with meaning of valuation, purpose of valuation
and selection of appropriate valuation approaches and methods.
This book also explains various formulas to be applied in valuations such as
Ratio Analysis, Computation of Present Value, Discount Rate, Computation of
Beta, Computation of Terminal Value, Computation of IRR and Computation of
Option Valuation, and Valuation Models by Professor Damodaran.
It covers the valuation of Equity shares, Preference shares, Convertible
instruments, ESOP, Sweat Equity, Trade Mark, Brand, Customer relationship
etc. along with Specimen Valuation Reports, Specimen Engagement Letters and
Specimen Management Representation Letter.
The book has a dedicated chapter on Start-ups' Valuation which has been
curated looking at the budding entrepreneurial talent in the recent times. A
separate chapter discussing the potential impact of Environment, Social and
Governance (ESG) on valuation has also been made part of this book.
Extracts of relevant provisions of the statutes, Guidance Note on Share Based
Payments 2020 issued by ICAI, FIMMDA guidelines, Beta in four minutes and
Guidance Note issued by IBBI on use of Caveats, Limitations and Disclaimers
by Registered Valuers in Valuation Report forms part of a comprehensive List
of Annexures appearing in this book.
This book is of immense value to Corporate Business Heads to assess the value
of alternative strategies. It will aid them in knowing how much value they can
create through restructuring and other major transactions. In addition, it will
serve as a valuable ready reckoner to every corporate finance practitioner,
Securities Analyst, Registered Valuers, Chartered Accountants, Company
Secretaries, Cost Accountants and other professional and corporate personnel
who wants to understand the approaches and methods of valuation under
various requirements and situations.
• Comprehensive coverage on Valuation Standards, Methods and
• Valuation of Start-ups
• Impact on valuation of Environmental, Social and Governance
• Case Studies on
– Mergers and Acquisitions
– Hybrid Instruments
– ESOP and Sweat Equity
– Corporate Guarantees
– Intangible Assets
– Business Combination
• Specimen Reports on Valuation under Companies Act, IT Act, SEBI,
IBC, FEMA and Ind AS.
• Guidance Note issued by IBBI on use of Caveats, Limitations and
• Comparative analysis of International Valuation Standards and ICAI
• FAQs on Valuations
About the authors
CA Harish Chander Dhamija,
CA, CS, Insolvency Professional and Registered Valuer – SFA
Harish Chander Dhamija, by profession, is a fellow member of Institute of
Chartered Accountants of India and Institute of Company Secretaries of India.
He is also a certified Insolvency Professional and a Registered Valuer
(Securities or Financial Assets) who is in practice in the disciplines of Chartered
Accountant, Insolvency Professional and Registered Valuer.
With his vast experience of more than 40 years in leading sectors like
Engineering, Electronic and Auto Ancillaries he also had the privilege of
working in Finance, Corporate Accounts, Taxation and Secretarial Department
including specialised area of corporate governance, raising funds through Public
Issue, External Commercial Borrowings and QIP, Mergers and Acquisition,
Foreign collaborations, SAP and implementation of Indian Accounting
Mr Dhamija has been a distinguished speaker at Delhi School of Economics on
International Convention on Corporate Governance.
As a member of group constituted by IBBI, Mr Dhamija contributed in drafting
Guidance Note issued by Insolvency and Bankruptcy Board of India on 1st
September 2020 suggesting use of Caveats, Limitations and Disclaimers by the
He is a member of Education, Research, Training and Publication Committee of
ICSI RVO and has contributed in writing and upgrading the ICSI RVO
educational study material.
Mr Dhamija is also associated with various RVOs as a visiting faculty for
sharing knowledge on various programmes like 50 Hours Educational Course
on Securities or Financial Assets, COP Trainings, etc., from time to time.
As an avid writer, Mr Dhamija has contributed more than 16 articles on
Valuations which have been published in various journals/research publications
published by Institutes of national repute.
Mr Dhamija is a strong believer in ‘sharing is caring’ which is a driving force
behind bringing Ready Reckoner for Valuers.
CA Raveesh Chaudhary
CA, B.Com, Registered Valuer – SFA
Raveesh Chaudhary under his father’s guidance opted chartered accountancy
and is a fellow member of the Institute of Chartered Accountant of India. An
ICAI certified forensic and system auditor, Raveesh currently holds a position
as Secretary of Lucknow branch of CIRC of ICAI (2020-2021).
Mr Chaudhary has about 10 years of extensive experience in Accounting Audit
Assurance and Indirect Taxation. He is a visiting faculty for Registered
Valuation Organisation, Divya Jyoti Foundation for 50 hour compulsory
training, COP classes and also a member of peer review board and expert
committee of DJF.
He has authored articles on Ind AS and has been a keen orator on various
corporate discussions on television and print media on various topics including
discussion on economic matters. His interest in teaching has motivated him to
write Ready Reckoner for Valuers.
Bloomsbury India Professional
Law, Tax and Accounting
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