Moneycontrol PRO
UPCOMING EVENT:Moneycontrol Pro & Espresso (A Sharekhan Company) in association with Intrazon 2.0 bring to you India’s Largest Retail Intraday Traders Online Conference. Learn 12 Amazing Strategies from 12 Intraday Traders @ Rs. 600/-. Register Now!

Bombay HC to hear Cadbury delisting case on July 1

Chocolate maker Cadbury, which is in dispute with the minority shareholders on its plans to delist, lashed out at the Investor Grievances Forum (IGF) today saying the forum was not justified to intervene in the case, reports Ashwin Mohan of CNBC-TV18.

June 26, 2011 / 07:23 PM IST

Chocolate maker Cadbury, which is in dispute with the minority shareholders on its plans to delist, lashed out at the Investor Grievances Forum (IGF) today saying the forum was not justified to intervene in the case.Cadbury said that IGF is politically motivated. 


IGF represents around 100 Cadbury shareholders.


The Bombay High Court had appointed Ernst & Young (E&Y) as the valuer for determing the valuations.


It is learnt that Cadbury did not provide relevent information to E&Y. The E&Y valuation does not include discounted cash flow and it is pegged at Rs 1,743 per share.


The court thus has to decide on fair valuation for the Cadbury shareholders.


The Bombay HC has directed the IGF to make submissions on discounted cash flow (DCF). It will seek to know the price change, if DCF accounted in share value. Discounted cash flow analysis is a method used for valuing a project, company, or asset using the  concepts of the time value of money.

The next hearing of the Cadbury delisting case will be on July 1.

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark