National
Government to reduce stake in Coal India
Kolkata: The Centre is planning to further reduce its stake in the world’s largest coal miner, Coal India Ltd. (CIL) by 10 percent and hopes to raise funds in the range of Rs.23,000 crore-Rs.24,000 crore by means of stock market auction.
“The government of India intends to disinvest 10 percent paid-up equity capital (63,16,36,440 shares each of face value Re.10) of CIL out of its shareholding of 78.65 percent through offer for sale of shares (OFS) by promoters through stock exchanges method as per the Securities and Exchange Board of India rules and regulations,” a notice from the department of disinvestment said.
The Centre has sought bids from merchant banks and selling brokers to take the process forward and will be selecting five such banks or brokers to manage the issue. The deadline for the application is September 2, 2015.
The government in this process is also considering allotting shares to eligible and willing employees of CIL at a discount upto five percent to the issue upto a maximum of five percent of the OFS’s size.
“The employees will be eligible to apply for shares up to Rs.2 lakh only,” the notice said.
As per the proposal from the disinvestment department, the authorised capital of CIL stands at Rs.8,904.18 crore which comprises of a Rs.904.18 crore non-cumulative 10 percent redeemable preference shares and Rs.8,000 crore equity shares. The subscribed equity capital as on March 31, 2014 stands at Rs.6,316.36 crore.
“As on July 27, 2015, it (CIL) is fourth largest company in terms of market capitalisation, with market value of Rs.2,67,782.27 crore.”
During January-end this year, the government sold a 10 percent stake in CIL which fetched Rs.22,557 crore.
CIL officials said this move may trigger a protest from the company and its subsidiaries’ trade unions.
National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.