Mumbai, March 12 (IANS) India Inc. on Thursday sought a speedy disposal of the coal block allocations cases against some industrialists like Kumar Mangalam Birla to avoid embarrassment for Indian business leaders and group organisations.
Assocham president Rana Kapoor said that a situation has arisen whereby "some unsubstantiated legal cases" are being pursued against well-established and credible business groups, and highly reputed and leading industrialists like Birla, "based on dated perceptions, interpretations and mere inferences".
He pointed out that it is critical to ensure a conducive, fair and transparent environment if India needs to grow at its potential growth rate of 10 percent or more.
Kapoor sought an environment where industrialists and corporate leaders can openly consult with members of the government, bureaucracy and regulators as a part of their normal business conduct without the fear of future legal and investigative repercussions.
"This is a practice across most developed economies, and also being followed in our country India for decades where top business leaders regularly meet ministers and bureaucrats for organisational objectives," Kapoor said.
Reiterating that Assocham is strongly opposed to corruption in any form and in favour of transparent and swift resolution of legislative cases, Kapoor commended the government's stance against graft, but called for resolving on priority cases like the one faced by Birla.
He lauded the manner in which the current round of coal block allocations has got off to a highly encouraging start, signalling not just access of steady coal reserved for the industry, but also ensuring that fair valuation of the natural resource is realised by the exchequer.
It is also putting to rest some of the controversial legacy issues around the coal block allocations which would further improve the investment climate, Kapoor concluded.
NGT: Joint panel of NGT will prepare a report on air pollution from thermal plant
The National Green Tribunal (NGT) has constituted a joint panel to submit a factual report on air
The Indian Premier League (IPL) is starting from March 26 and will run till May 29. All the match
Ranbir Kapoor is in the headlines these days for his film 'Animal'. Fans are also very excited ab
Patanjali Ayurved medicine for Coronavirus: On one hand, the whole world is trying to find the va
We played some outstanding cricket: Clarke
Sydney, March 26 (IANS) Australia skipper Michael Clarke on Thursday said he is proud the way h
Chief Minister Yogi Adityanath has said that in memory of the brave Sahibzadas of Guru Gobind Sin
After accusing Union Minister Smriti Irani's daughter of running an 'illegal bar' in Goa, Congres
A shocking case has come to light in Shivpuri, Madhya Pradesh, where the oxygen supply of a Covid
Terrorist Imran Bashir Ganai, arrested for attacking workers of Kannauj Uttar Pradesh in Harman S
Mock drills were organized in various hospitals across the country on Tuesday on the advice of Pr
