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Judgment
Ld. Counsels representing the parties are present through VC.
IA No. 78/2023
This IA has been filed with the following prayer:
a. Direct the Petitioner No.2 not to dictate the methodology of valuation to be adopted by the valuer;
b. Direct the valuer to adopt any/all such methodology as may be deemed fit and proper in compliance of the orders of this Hon’ble Tribunal passed on 25.09.2023; and/or
c. Pass such further order(s) in favour of the Applicant in the facts and circumstances of the present case.
Ld. Counsel representing the Applicant states that allegedly some mails have been sent by the petitioner to the valuers appointed by this Tribunal vide order dated 25th September, 2023.
Let the notice be issued to the non-applicant respondent-petitioner.
Ld. Counsel representing the petitioner accepts notice. He submits that in response to the mail, valuer has responded by sending an e-mail after receiving the advance copy of the present application whereby he states that the appropriate standards & norms shall be followed by him.
In the wake of this, we dispose of this application with observations that both the Ld. Valuers appointed by this Tribunal would have full independence in so far as the methodology to be adopted by them by following industry standards for the purpose of valuation of the assets of the Respondent Company. However, they would also be entitled to seek any information from the respective parties in order to complete the work expeditiously and file the report with this Tribunal in compliance of the last order.
With these observations the IA stands disposed of.