Amalgamation Scheme Rejected: Valuation Process Criticized for Ignoring Established Methods and Relying on Guesswork.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Approval of scheme of amalgamation - The valuer made a valuation disregarding the methodology, methods or share entitlement ratio even as stated by him in his valuation report. No valuation of each share of every company has been done to arrive at the exchange ratio and we are convinced that only the guess work has been done to arrive at share exchange ratio. - Scheme not approved.....