Captains and netas come down on CBI like a tonne of bricks

Sabarinath M &Soma Banerjee
The Economic Times
16 October 2013

Mumbai / New Delhi: The decision by Central Bureau of Investigation to formally name Kumar Mangalam Birla, the head of a storied business empire, along with his company Hindalco, has caused consternation in India Inc.

Birla, 46, is widely considered a conservative businessman who plays by the book. In the 2G scam, for instance, Idea Cellular, an Aditya Birla Group firm, was the only telco not to come under the scanner.

“It is ludicrous that an FIR has been filed against Kumar Mangalam. He is straight as an arrow. Our system is such that biggest fraudsters go scot-free. I can give you many examples to prove this point. The innocent people are the ones who are harassed,” rued Deepak Parekh, chairman of HDFC.

This view was echoed by other industrialists, who apprehend that CBI’s actions may have far-reaching consequences marring India’s image among investors abroad.