Hell hath no fury than an industrialist scorned. The naming of Kumar Mangalam Birla, the youthful chief of the Aditya Birla group, in the 14th first information report (FIR) filed by the central bureau of investigation (CBI) in the coal allocation scam, has set the cat among the pigeons of India’s business class, which suddenly cannot decide whether to run or to hide.
Birla has only been named in the FIR—not arrested, not convicted, not jailed. But from HDFC’s Deepak Parekh downwards, everybody who is somebody in Bombay is behaving as if the skies have fallen down and giving certificates of good conduct to the Hindalco chairman, whose company is accused of garnering a 15% stake meant for public sector undertakings.
Birla is, of course, only the latest businessman in a scam under the cavernous nose of the Congress-led UPA.
Before him, there was Naveen Jindal, the tricolour-waving head honcho of Jindal Steel, who is also a Congress member of Parliament, also in the coal scam. Before him, there was Ratan Tata and Anil Ambani and Sunil Mittal and the Ruias of Essar and the Khaitans in the 2G scam.Before (and after) them, there was (and there is) Mukesh Ambani in the KG Basin ripoff. Add to that a Keshub Mahindra of Union Carbide, and you have the who’s who of South Bombay.
Considering that most of them are involved in allegations of usurping natural resources (spectrum, coal, gas), the question to ask is: have our industrialists and businessmen, who otherwise paint themselves as the heartbeat of the nation, let the country down with their greed and avarice? Do they even have the locus standi to talk of “policy paralysis”, when they have their hand in the till, and how?