Distressed companies undergoing insolvency proceedings could get higher valuations under a new mechanism proposed by the Insolvency and Bankruptcy Board of India (IBBI). According to a circular issued by the regulator, it will be mandatory for valuers to take into account “synergistic value” and intangible assets while estimating an entity’s worth. The norms also mark a shift in the valuation approach under the Insolvency and Bankruptcy Code (IBC) from a largely asset-based reporting structure to a more holistic assessment of a company’s market value.