(Image source from: Kumar Mangalam Birla booked!})

The Central Bureau of Investigation (CBI), in its 14th FIR filed in the controversial multi-crore coal block allocation scam, has booked Kumar Mangalam Birla, the chairman of Aditya Birla Group, former coal secretary P C Parikh on account of cheating, forgery and financial misrepresentation.

Cases have been booked against Hindalco, a subsidiary of the Aditya Birla Group and government sector aluminium manufacturer Nalco too. The national investigation agency has alleged that Mr. Birla and his company were shown undue favor in allotment of coal block in 2005.

The 46-year-old head honcho of the  reputed Aditya Birla group has booked for cheating and conspiracy, and will be called in for questioning, CBI sources said.  The investigating agency is conducting raids at the Hyderabad, Mumbai and Bhubaneswar offices of Hindalco.

The $40 billion (over Rs. 2 lakh crore) conglomerate, however, has rebuffed the news.

Shares in Aditya Birla-promoted plummeted sharply on Tuesday. “Hindalco shares dropped by5 per cent , making it the top loser on the 50-share Nifty benchmark in morning trade.”

AW: Suchorita Dutta Choudhury