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Reading: India’s top investigators to close coal scam case against billionaire Birla
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billionaire Kumar Mangalam Birla
PhotoNews Pakistan > Business > India’s top investigators to close coal scam case against billionaire Birla
Business

India’s top investigators to close coal scam case against billionaire Birla

Web Desk
By Web Desk Published August 25, 2014 1 Min Read
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Indian billionaire Kumar Mangalam Birla. Photo Credits: File Photo
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India’s Central Bureau of Investigation (CBI) said it would drop a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that surfaced in 2012 after a government auditor’s report.

CBI spokeswoman Kanchan Prasad told the media that the CBI will soon file a closure report on the case against Birla and former coal secretary P.C. Parakh.

“Obviously, if a closure report is being filed, there’s no criminality (on the part of Birla and Parakh),” she said.

India’s federal auditor had alleged that the government’s under-priced sale of coal blocks may have cost the exchequer revenues of $33 billion, although industry watchers and the previous government had cast doubts on the figure.

Indian media has dubbed the controversy as “coalgate”.

The CBI filed the case against Birla and Parakh late last year in relation to a block allocated in 2005 to Hindalco Industries, part of the $40 billion Aditya Birla Group.

Kumar Mangalam Birla is the chairman of the group. Birla had denied all allegations of wrong doing.

 

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