2013 (10) TMI 851

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..... tion (Public Interest Litigation), the issue with regard to divestment of 10% equity of Coal India Limited (CIL) in October 2010 has been raised. It is alleged that powerful financial institutes usurped the natural resources only on payment of Rs. 15,200 Crores and caused loss to the exchequer of Rs. 1.75 Lakh Crores to the nation. According to the petitioner, the proposal of equity disinvestment .....

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..... d of India (SEBI). The procedure is laid down in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR). As required by ICDR, intermediaries such as Book Running Legal Managers, legal counsel (domestic and international), advertising agency, register, etc. were appointed to guide the deal and to give the professional advise at every stage .....

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..... ed at Rs. 226-245 per share. 8. The petitioner alleges that the assets valuation methodology was not adopted which is the most appropriate methodology of valuation. 9. What was involved in the present case was not the sale of assets but sale of equity capital. If after following the ICDR and on taking into consideration the relevant methodologies of valuation for sale of equity capital the price .....

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