Trade bodies criticise CBI FIR against Kumar Mangalam Birla

VADODARA: Industry leaders connected with Federation of Gujarat Industries (FGI), Central Gujarat Chamber of Commerce ( CGCI), Vadodara Chamber of Commerce and Industries (VCCI) have strongly reacted to the CBI FIR against Aditya Birla Group Chairman Kumar Manglam Birla.

"While it is absolutely within the CBI's rights to proceed against any person to ensure that the law of the land is preserved, irrespective of the stature of the person, it is desirable to ensure that all facts of the case are laid upfront before proceeding against respected and reputed individuals," a statement said.

The statement was issued here today by former FGI president Geeta Goradiya, CGCI president Vishnu I Patel, former VCCI president Nilesh Shukla and SIA president Bhupendra Parekh said.

Describing Birla as an "iconic industrialist", the CBI's action could have an adverse impact on the investment climate and decision making.

The creation of an atmosphere of fear in the country, they said, is not desirable and emphasised the need to ensure that India's investment climate stays attractive.

"Reputations of institutions and individuals take years to build and therefore, extreme caution needs to be exercised before any action which could jeopardise reputation of institutions and individuals," Confederation of Indian Industries (CII) Chairman Gopal Krishnan said in a statement issued here today.