Reacting to the special CBI court's summon on Birla, the company and two of its top officials as accused in a coal scam case, the company said that it would defend its case through "legal process" after studying order of the special court.
Aditya Birla group flagship firm Hindalco on Wednesday said none of its officials, including Chairman Kumar Mangalam Birla had pursued any unlawful or inappropriate means to secure allocation of Talabira-II coal block in Odisha.
Reacting to the special CBI court's summon on Birla, the company and two of its top officials as accused in a coal scam case, the company said that it would defend its case through "legal process" after studying order of the special court.
"Hindalco reiterates that none of its officials, including its Chairman Kumar Mangalam Birla, have pursued any unlawful or inappropriate means for securing the allocation of the coal block," the company said in a statement.
It further said that Hindalco would study the order of the court in detail "and would defend its case through legal process." Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned as accused by the special court which observed that Singh was roped into the criminal conspiracy to "accommodate" M/s HINDALCO in Talabira-II coal block allocation in 2005.
Hindalco said it "cooperated with investigating authorities completely during the course of investigation" and its management was confident that it would "stand vindicated at the end of the ongoing legal process". The coal block was deallocated in 2014.
Aditya Aluminium Project, for which this allocation was made, has been implemented by the company at an investment of over Rs 13,000 crore in Odisha. "The plant is already operational even though Talabira-II & III coal block could not become operational for want of clearances. Consequently, Hindalco is having to suffer irrecoverable financial stress," the company said.
Aditya Birla stock price
On March 11, 2015, Aditya Birla Money closed at Rs 26.90, down Rs 0.1, or 0.37 percent. The 52-week high of the share was Rs 39.15 and the 52-week low was Rs 11.90.
The company's trailing 12-month (TTM) EPS was at Rs 1.07 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 25.14. The latest book value of the company is Rs 4.93 per share. At current value, the price-to-book value of the company is 5.46.
Anda sedang membaca artikel tentang
No officials, Birla pursued any unlawful means: Hindalco
Dengan url
http://gayafashionshow.blogspot.com/2015/03/no-officials-birla-pursued-any-unlawful.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
No officials, Birla pursued any unlawful means: Hindalco
namun jangan lupa untuk meletakkan link
No officials, Birla pursued any unlawful means: Hindalco
sebagai sumbernya
0 komentar:
Posting Komentar