the Respondent-Company. The principal contention of the learned counsel appearing on behalf of the Appellants is that the valuation report which was submitted by the Company on the basis of which the reliefs claimed by the Company were granted, did not take take into consideration, firstly, the valuation of land owned by the Company at New Mumbai. He submitted that the valuation report is showing valuation at Rs 16 Crores, whereas under the Ready-Reckoner, the valuation of the land is shown at Rs. 2,000 Crores. He further submitted that valuation report itself does not take into consideration several other factors, which ought to have been taken into consideration for the purpose of determination of the market value of the shares. He has invited our attention to the validity report and has taken us through the entire report. It is submitted that, therefore, the scheme sanctioned by the learned Single Judge be set aside and a direction may be given to the valuer to submit the report in respect of the shares of the Respondent-Company. He then submitted that even a special meeting was not convened to decide this issue, and though objection was raised by the minority shareholder on various points, no explanation was given to the objection raised by the minority
