Biz bodies slam FIR against K M Birla

Jamshedpur: Central Bureau of Investigation (CBI)'s first information Report rFIR) against Kumar Mangalam Birla, chairperson Aditya Birla group, in the case related to allotment of captive coal blocks between 1993 and 2010 hasn't gone down well with business bodies of Singhbhum. Several industrialists and business groups have expressed disappointment on the development in the Coalgate scam, that has been troubling a section of the politicians, bureaucrats and corporate honchos for the last two years.
The Singhbhum Chamber of Commerce and Industry (SCCI), the leading representative body of the corporate houses and traders, has written to the CBI director seeking immediate withdrawal of the FIR. "In an extremely depressed market condition, acts of such nature will further dent the confidence of industrialists and do great disservice to the Indian economy and business. Sdemands the FIR against Kumarmangalam Birla be withdrawn immediately and the culprits who have robbed the nation be booked," reads a paragraph of the letter addressed to CBI director Ranjit Sinha on Thursday.
Elaborating the motive behind the letter, newly elected SCCI president Suresh Sonthalia said: "CBI, instead of catching hold of shady characters, which got hold of coal blocks in a surreptitious manner for the purpose of merchant mining, has embroiled a genuine person like Kumar Mangalam Birla." The reaction of the Adityapur Small Industries Association (ASIA) was similar. "CBI should restrain from indulging in creating an atmosphere of shock and sensation and create fear psychosis," said a noted industrialist and functionary of ASIA.
Several industrialists have expressed dismay over the episode. "The business community finds in Kumar Mangalam Birla, a role model who took the reins of this group at a young age and led it to great heights by his hard work, dedication, and high business ethics," said entrepreneur and SCCI vice-president Bharat Vasani.
Several leading business bodies have in the past 24 hours expressed disappointment on the issue. Besides, Union commerce minister and corporate affairs minister Sachin Pilot too has slammed CBI on this issue. The premier investigating agency on Tuesday lodged FIR against Hindalco Industries Ltd and named Kumar Mangalam Birla in the FIR as the representative of the company in connection with the coal block allocation.