In the latest on cadbury's bittersweet delisting feud with its
minority shareholders, the Bombay high court pulled up official valuer
Ernst & Young as it observed that the firm had included unnecessary
aspects in its valuation report and not stuck to the court's
directions. Ernst & Young had proposed a valuation of Rs 2,014 per
share, but the minority argued in court today, that there was no
transparency in the valuation as projected financials and growth rate
were not mentioned in the report.
The minority shareholders were directed by the high court to file an
affidavit on their objections and the case will next be heard on 11th
august.
minority shareholders, the Bombay high court pulled up official valuer
Ernst & Young as it observed that the firm had included unnecessary
aspects in its valuation report and not stuck to the court's
directions. Ernst & Young had proposed a valuation of Rs 2,014 per
share, but the minority argued in court today, that there was no
transparency in the valuation as projected financials and growth rate
were not mentioned in the report.
The minority shareholders were directed by the high court to file an
affidavit on their objections and the case will next be heard on 11th
august.
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