Aditya Birla group flagship firm Hindalco today said it would defend its case through "legal process" after studying order of the special court, which summoned its Chairman Kumar Mangalam Birla, former prime minister Manmohan Singh and four others as accused in a coal scam case pertaining to allocation of Talabira-II coal block in Odisha in 2005.
Hindalco reiterates in a statement 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 statement further said that Hindalco would study the order of the court in detail "and would defend its case through legal process."
"The company had represented its case to the concerned authorities in a transparent and lawful manner, following which it was allocated a 15 per cent share in the combined Talabira-II and III coal block in November 2005, in a JV with Mahanadi Coalfields Limited and Neyvili Lignite Corporation, both public sector undertakings with an 85 per cent stake," the statement said.
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.
Consequently, Hindalco is having to suffer irrecoverable financial stress," the company said.
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