As a Professional Valuer, what would be your basis of valuation when a concern is 'not a going concern'?

As a Valuer, if the company is not a going concern, then Liquidation Value is applicable. A going concern assumption generally increases the value placed on a company's inventory. Usually, inventory that can be sold in the company's regular distribution channels would realize higher amounts than inventory that must be sold immediately because a company is being liquidated. Vice versa for Not a Going Concern. LIQUIDATION VALUE International Valuation Standards Council "Liquidation Value" IVS 104, dealing with "Bases of Value" defines "Liquidation Value" as the amount that would be realised when an asset or group of assets are sold on a piecemeal basis, that is without consideration of benefits (or detriments) associated with a going-concern business. Liquidation value can be either in an orderly transaction with a typical marketing period or in a forced transaction with a shortened marketing period and a valuer must disclose whether an orderly or forced transaction is assumed. Concept of Liquidation Value According to Divestopedia, "Liquidation value is the value of all the assets owned by a company when it is no longer a going concern. It also means the amount of money that can be collected when the assets of a company are sold, with an aim to meet the final obligations of the organization. This value presumes that the seller will sell all the assets of the organization as quickly as possible, even if they are below the existing market value." To calculate the liquidation value, the liabilities are subtracted from the assets. The existing assets will be first used to meet the debt obligations of the company. The remaining amount, if any, is then distributed amongst the shareholders. Divestopedia explains two types of "Liquidation Value". This is briefly explained below: a) Orderly Liquidation Value: The orderly liquidation value (OLV) is typically included in an appraisal of hard tangible assets (i.e., Machinery/ equipment etc.,). It is an estimate of the gross amount that the tangible assets would fetch in an auction-style liquidation with the seller needing to sell the assets on an "as-is, where is" basis. The term, orderly, implies that the liquidation would allow for a reasonable time to identify all available buyers, and the seller would have control of the sale process. b) Forced Liquidation Value: Unlike OLV, in Forced Liquidation Value (FLV), the first available buyer is used and the seller does not have control of the sale process. Forced liquidation value (FLV) is the amount of money that a company will receive if it sold its assets in an auction immediately. The idea behind this FLV is to get an estimate of the financial position of the company in the worst possible situation and circumstances. It is based on the assumption that the business will sell its assets in the quickest time possible, which will usually lead to low price. The OLV of tangible assets would be less than its Fair Value (FV) and more than the Force Liquidation Value (FLV) It would be pertinent to note that Regulation 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018 requires the resolution professional to appoint two registered valuers who shall submit to the resolution professional an estimate of the fair value and of the liquidation value computed in accordance with internationally accepted valuation standards, after physical verification of the inventory and fixed assets of the corporate debtor.