South Eastern Coalfields Ltd., a unit of state-run Coal India Ltd., has hired banks for an initial public offering in Mumbai that could raise as much as $800 million, according to people familiar with the matter. The coal producer has appointed ICICI Securities Ltd., SBI Capital Markets Ltd., Motilal Oswal Investment Advisors Pvt. and IDBI Capital Markets & Securities Ltd. to advise on the share sale, the people said, asking not to be identified because the information is private. South Eastern Coalfields aims to file a draft prospectus as early as December, the people said. Parent Coal India is expected to sell shares in the proposed offering, they added. Discussions are ongoing and details including the size and timing of the offering could change, the people said. Representatives for Coal India, South Eastern Coalfields and the banks didn't immediately respond to requests for comment. The potential listing would add to Coal India's efforts to take some of its sub...
Gurmeet Ram Rahim, chief of Dera Sacha Sauda, was acquitted in a 22-year-old murder case today, with the Punjab and Haryana High Court citing lapses in investigation and lack of solid evidence against the accused.
The court also listed the areas in which investigation was "tainted and sketchy" -- including the weapon used for the murder, ballistic reports, post-mortem report, and polygraph test which did not bear out the prosecution claims in the murder of former sect manager Ranjit Singh.
Influenced by media glare, the investigating officer(s) "carried out a tainted and sketchy investigation into the crime," said the bench of Justices Sureshwar Thakur and Lalit Batra.
The case "is a stark portrayal of the necessity of Courts of law making an incisive and objective analyses of the evidence as exist on record," the judges said.
Ram Rahim is serving a 20-year-sentence for raping two of his disciples and has a 16-year-old murder case against him as well.
Ranjit Singh was killed allegedly for his suspected role in the circulation of an anonymous letter, which said how women were being sexually exploited by Ram Rahim at the Dera headquarters.
Ram Rahim, who was accused of conspiracy, and four others were convicted by a CBI court in Panchkula, Haryana, in October 2021 and given life imprisonment. He is currently in jail at Haryana's Rohtak.
Gurmeet Ram Rahim's conviction in 2017 in the rape cases sparked massive violence and arson in parts of Punjab and Haryana. Thirty people died, more than 250 were injured and the Army had to be called in.
from NDTV News- Special https://ift.tt/5I7VXCh
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