9911796707
TMI Blog2013 (10) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... 6-245 per share was fixed, it cannot be said that the price band so fixed was unreasonable or sale of 10% equity capital by CIL was unfair. Where challenge is laid to a government policy, particularly economic policy, this Court does not interfere in such policy matter in its power of judicial review unless the impugned policy is found to be grossly arbitrary or unfair or unreasonable or irrationa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... existing norms and government laid down policies were flouted. 3. On July 15, 2013, this Court directed the petitioner, who appears in-person, to serve a copy of the Writ Petition along with all annexures to Mr. D.S. Mahra, advocate-on-record, to enable Mr. Siddharth Luthra, learned Additional Solicitor General, to take instructions in the matter. 4. We have heard Mr. Ehsan Khalid, petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on competitive basis. 6. As regards the valuation, it was brought to our notice that, inter alia, three valuation methodologies which investors typically use were applied. These three methodologies are - (i) EV (Enterprise Value)/EBITDA (Earnings before Interest, Tax, Depreciation and Amortization), (2) Price to Earnings (Ration of Market price to earning per share of a company) and (3) Price to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was fixed, it cannot be said that the price band so fixed was unreasonable or sale of 10% equity capital by CIL was unfair. Where challenge is laid to a government policy, particularly economic policy, this Court does not interfere in such policy matter in its power of judicial review unless the impugned policy is found to be grossly arbitrary or unfair or unreasonable or irrational or violative o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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