New Delhi, Aug 6 (IANS) The Supreme Court on Thursday asked the Maharashtra Police to produce a chargesheet in the Palghar lynching case before it for scrutiny.
A bench comprising Justices Ashok Bhushan and R Subhash Reddy asked the Maharashtra government about the action taken against the erring police officials as months have passed after the lynching incident. The top court asked for inquiry reports, details of investigation and also asked the police to file a chargesheet in the case before it for scrutiny.
A group of petitioners, all Juna Akhara priests and some of the relatives of two ‘sadhus', who were lynched at Palghar, stated in a petition that they have no faith in the Maharashtra government or the police, and also do not expect a fair and just investigation into the case, as they suspected their involvement in it. Advocate Shashank Shekhar Jha who claimed to be the main petitioner in the case, contended before the bench that Maharashtra is a land of Sadhus but they were literally handed over to the mob by the police itself.
Justice Bhushan asked advocate Rahul Chitnis, appearing for Maharashtra government, regarding the progress made in the inquiry conducted against the policemen in the lynching of the two Sadhus and their driver in Palghar. Jha contended that the state government must file relevant excerpts of the chargesheet and also file an affidavit on the progress of the investigation so far.
Solicitor General Tushar Mehta said "Let all chargesheets come on record and let the court decide what is relevant or not." The top court has posted the matter for further hearing after three weeks.
On June 11, the Supreme Court agreed to hear a plea seeking a CBI probe into the lynching of sadhus in Palghar, and sought a response from the Maharashtra government.
A bench comprising Justices Ashok Bhushan, M R Shah and V Ramasubramanian also issued notice on a separate plea seeking a National Investigation Agency (NIA) probe to ensure evidence in the matter is not destroyed.
"There is a reasonable apprehension of bias, if Respondent No. 2 (Maharashtra Police) proceeds with the investigation. It is judicially acknowledged that right to fair and just investigation is guaranteed under Article 21 of the Constitution. Therefore, the petitioners have approached this court inter alia, seeking transfer of investigation of the matter to the Central Bureau of Investigation", argued the petitioners.
Maharashtra government counsel opposed the petitions and contended before the top court that similar matters are pending before the Bombay High Court too. The counsel for the petitioner seeking an NIA probe argued "our apprehension is that the evidence will disappear." Counsel appearing for the Juna Akhara argued, "Witnesses are committing suicide. We have reasons to believe that the investigation is not taking its course."
The plea contended that the mob started beating the sadhus, Chikne Maharaj Kalpavrukshagiri, aged 70, and Sushilgiri Maharaj Kalpavrukshagiri, aged 35 in front of the police officials. The plea contended the possible complicity of the Maharashtra Police and the state governmentthat in the lynching of the sadhus.
New Delhi, Sep 28 (IANS) Investment experts have projected a positive turnaround for the ITC stock with 41 out of 43 analysts on Bloomberg giving a "buy" or "Hold" call for the stock.
As per JM Financial, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's.
ITC in FY30 could clock an FMCG EBITDA that is higher than the combined FY20 EBITDA of Nestle India, Britannia, Tata Consumer, JM Financial said.
It said that ITC's FMCG segment is possibly one of the most under-appreciated businesses in the Indian consumer space in recent times.
"We suspect the market may not have taken a holistic look yet; our understanding of Indian consumer categories tells us that ITC FMCG today addresses market opportunities that are Rs 2.1 trillion ($ 28 billion) in size in aggregate. Even if one excludes a couple of nascent Dairy products from the portfolio, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's," it added.
"Profitability is low at present, but we reckon that with investment-phase largely done (though some new categories are still in incubation stages), profits and cash-generation would get much bigger here onwards," the report said.
As per Centrum Broking, "In our deep dive analysis into ITC's foods business we conclude that it is at the cusp of a take-off both in terms of top-line and margins."
"ITC is emerging as a foods company, more comparable to Nestle than HUL. Branded packed food consistently gaining saliency given the management focus (saliency increased from 71 per cent of other FMCG in FY14 to 81 per cent in FY20)," it added.
It is the only company which has successful brands from staples (Aashirvaad) to RTC and RTE (Sunfeast, Bingo, Yippee etc.).
ITC has made consistent investments in brand building over the past decade helping create brands across the branded packed food categories from staples a and dairy to RTC and RTE. Aashirvaad, Sunfeast, Bingo and Yippee now account for Rs 60 billion, 40 billion, 27 billion and 13 billion in consumer spend terms.
As per BNP Paribas, there is a faster than expected recovery in ITC's cigarette business. The catalyst for ITC is a faster than expected recovery in cigarette volumes and higher than expected margin expansion in the FMCG business.
As per B&K Securities, a turnaround in cigarette volumes is expected from September onwards. "We believe the gradual lifting of start/stop lockdowns in most states, opening up of bars/clubs in some states and more attendance in offices due to lesser fears from Covid-19 will lead to the marginal smoker slowly coming back. Given the fact that 30 per cent of the smokers' user base comprises of non-regular smokers who have been impacted by the start/stop lockdowns, we feel the industry figures will start looking up from September 2020," it added.