Hindalco Ind adhering to coal allocation process

Media reports say CBI has filed FIR against Kumar Mangalam Birla, Nalco, Hindalco in Coalgate

Hindalco Industries Ltd today said the company is following every required process for coal allocation in line with government regulations.

Media reports early today stated that the Central Bureau of Investigation has filed FIR (First Information Report) against Kumar Mangalam Birla, NALCO, HINDALCO and former secretary coal PC Parakh in the coal scam case.

In a notification to the BSE, the primary aluminium producer said, “This relates to media reports on an FIR naming Hindalco and our Chairman on the coal issue. Apparently, this seems to be part of a larger case entailing coal allocation to companies, and being one of the companies, we are being investigated also.

Mahan (Madhya Pradesh) and Talabira-2 (Odisha) are two coal blocks that are crucial for the company since timely implementation of the blocks will help the company's greenfield aluminium projects.