RHI Magnesita India Limited ( Orient Refractories ) - Speculation cum special situation

The judge has taken the market value of Orient shares and face value of the other two unlisted company shares and held that the valuation ratio is unfair & unreasonable !

https://nclt.gov.in/sites/default/files/Feb-final-orders-pdf/C.P.(CAA)-2199(MB)_230-232_2019%20RHI%20India%20Pvt.%20Ltd.FINAL__0.pdf

I think it is a settled principle that valuation is a complex and technical exercise, and judges are not supposed to get into it, especially when there are no objections filed by any aggrieved persons for the merger.

I hope this order is challenged successfully in a higher court.

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