(Continuation news of SUMITPOWER): valuation exercise being undertaken and completed within that time frame. Pursuant to the recommendation of the High Court Division as contained in its judgment dated 14th July, 2016 in the Company matter no. 68 of 2016, the board of directors of SPPCL, SUPCL, SNPL and SPL have resolved to appoint an independent valuer to undertake a valuation of the shares of all the companies under reference as on the 31st December, 2015, the appointed date of the merger, (cont. 3)