https://www.taxtmi.com/caselaws?id=425483 In proceedings framed under section 59 of the Companies Act, 2013, the Tribunal treated a challenge to the fairness of an exit-offer valuation as maintainable where the valuation report had not been disclosed, the earlier valuation appeared doubtful, and the requested rectification relief depended on a fresh valuation. It held that misdescription of the provision invoked did not prevent effective relief when the substance of the grievance concerned the integrity of the valuation underpinning the corporate action. Relying on its inherent and statutory powers under the Companies Act and NCLT Rules, the Tribunal permitted appointment of an independent valuer and treated the remaining prayers as consequential to that report. en-us Fri, 01 Jul 2022 00:00:00 +0530 Mon, 25 Jul 2022 09:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425483 In proceedings framed under section 59 of the Companies Act, 2013, the Tribunal treated a challenge to the fairness of an exit-offer valuation as maintainable where the valuation report had not been disclosed, the earlier valuation appeared doubtful, and the requested rectification relief depended on a fresh valuation. It held that misdescription of the provision invoked did not prevent effective relief when the substance of the grievance concerned the integrity of the valuation underpinning the corporate action. Relying on its inherent and statutory powers under the Companies Act and NCLT Rules, the Tribunal permitted appointment of an independent valuer and treated the remaining prayers as consequential to that report. Case-Laws Companies Law Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425483