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Former <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6359397" type="PERSON" weightage="80" keywordseo="Manmohan-Singh">Manmohan Singh</keyword> does not have to appear in a <keyword id="6364736" type="ORGANIZATION" weightage="80" keywordseo="Delhi-court">Delhi court</keyword> on April 8, the <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> said today. The top court has suspended the summons sent to the <keyword id="6378412" type="POSITION" weightage="80" keywordseo="politician">politician</keyword> by a <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> last month. The investigating agency has three weeks to respond to Dr Singh's petition against his summons. 
 Dr Singh, 82, had been told to make a personal appearance with industrialist Kumar <keyword id="286113" type="PERSON" weightage="80" keywordseo="Mangalam-Birla">Mangalam Birla</keyword> for a case that says a coal field was illegally awarded in 2005 to Hindalco, a company owned by Mr Birla. At the time, Dr Singh held direct charge of the <keyword id="111919" type="ORGANIZATION" weightage="80" keywordseo="coal-ministry">Coal Ministry</keyword>. 
The former PM has not been charged with any crime but is being investigated for criminal breach of trust, criminal conspiracy, and corruption. He has denied any wrong doing. The CBI has twice said it would like to close the case against him, but has been over-ruled by the judge handling the matter. 
 "There was no criminal intent, it (the allotment) was an administrative decision and not an illegality," said the politician's lawyer, <keyword id="30182" type="PERSON" weightage="80" keywordseo="Kapil-Sibal">Kapil Sibal</keyword>, who was also <keyword id="2789849" type="UNKNOWN" weightage="80" keywordseo="Telecom-Minister-in-Dr-Singh">Telecom Minister in Dr Singh</keyword>'s government. Two of Dr Singh's three daughters were present in court today. 
 The case known as "Coalgate" came to light in 2012 after <keyword id="222693" type="COMPANY" weightage="80" keywordseo="The-National">the national</keyword> auditor said 1.86 lakh crores had been lost because coal blocks were distributed without a transparent bidding process. Last year, the Supreme Court declared as illegal nearly 300 coal licenses issued by consecutive governments since 1993. Over the last few weeks, 32 of the coal blocks were auctioned by the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>. 
 Judge <keyword id="2055026" type="UNKNOWN" weightage="80" keywordseo="Bharat-Parashar">Bharat Parashar</keyword> of the CBI court said in the summons to Dr Singh that "a well-planned conspiracy was hatched" to award a coal field in Odisha to <keyword id="105310" type="CITY" weightage="80" keywordseo="Hindalco-Industries">Hindalco Industries</keyword>, part of the $40 billion <keyword id="44373" type="CITY" weightage="80" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, which is chaired by Kumar Mangalam Birla. 
 
Hindalco has said that it made its case for the mining license "in a transparent and lawful manner".

Supreme Court sides with Ex PM Manmohan Singh, says appearance in court on April 8 not required

<ul><li><keyword id="253799" type="PERSON" weightage="20" keywordseo="Yash-Birla">Yash Birla</keyword> has been named as a <keyword id="2493710" type="PERSON" weightage="20" keywordseo="Willful-defaulter">willful defaulter</keyword> by <keyword id="49007" type="CITY" weightage="20" keywordseo="Uco-Bank">UCO Bank</keyword> for non repayment of a loan of ₹676 million. </li><li>Birla’s company Birla Surya Ltd is the one to have defaulted in the payment. </li><li>UCO Bank, before it was nationalized, was founded by Birla’s great grand uncle GD Birla.</li></ul>Indian businessman Yash Birla, who comes from one of the most prestigious families of India, has been <a href="https://www.livemint.com/news/india/uco-bank-declares-yashovardhan-birla-willful-defaulter-1560660742531.html">declared</a> as a willful defaulter by the Kolkata-based UCO Bank. His company Birla Surya Ltd failed to repay loans worth ₹676 million. Birla was sent several notices regarding the repayment of the loan. His company was given a credit limit of ₹1 billion to manufacture multi-crystalline solar photovoltaic cells. Interestingly, Birla has been issued a notice for being a willful defaulter by UCO Bank – the same bank that was founded by his great grand uncle Ghanshyam Das Birla in 1943. The bank was later nationalized by the Government of India in 1969. “Due to non-repayment of dues to the bank, the account was declared NPA (non-performing asset) on 3 June, 2013. The borrower has not repaid the dues owed to the bank despite several notices. The borrower company and its directors, promoters, guarantors were declared as willful defaulters by the bank and their name reported to the credit information companies for public information," UCO Bank said in its <a href="https://www.livemint.com/news/india/uco-bank-declares-yashovardhan-birla-willful-defaulter-1560660742531.html">notice.</a> Yash Birla, head of the <keyword id="169144" type="COMPANY" weightage="20" keywordseo="Yash-Birla-Group">Yash Birla Group</keyword>, is not new to financial troubles. Over the years, financial problems have been mounting on Birla, who was also bailed out by his billionaire cousin Kumar Mangalam Birla, in the past. In January 2019, three of Yash Birla’s <a href="https://indianexpress.com/article/business/companies/mca-asks-sfio-to-probe-three-yash-birla-promoted-firms-5529347/">firms</a> – Birla Cotsyn India Ltd, Birla Shloka Edutech Ltd and Zenith Birla (India) Ltd – were under investigation for fraud as directed by the Ministry of Corporate Affairs. In <a href="https://www.business-standard.com/article/pti-stories/sbi-sends-recovery-notice-to-yash-birla-s-firm-117041301197_1.html">2017</a>, the State Bank of India had sent a recovery notice to Birla’s firm for the repayment of ₹178 million in debt. See Also: <a href="https://www.businessinsider.in/from-today-black-money-cases-cant-be-settled-by-paying-up-dues/articleshow/69818885.cms">From today, black money cases can't be settled by paying up dues</a>

Yash Birla declared ‘willful defaulter’ by a bank that was founded by his great grand uncle

<ul><li>Birla family patriarch B K Birla passes away on July 3 due to age-related ailments, at the age of 98. </li><li>A 13-year old BK was chided by an uncle about earning pocket money, and that led him to invest in shares.</li><li>B K Birla’s funeral will be held on Thursday in Kolkata, as per his last wishes.</li><li>He wrote in his autobiography, Swanta: Sukhaya that he was taught accounting by his family. </li></ul>Decades before <keyword id="6354955" type="UNKNOWN" weightage="20" keywordseo="Kumar-Mangalam-Birla">Kumar Mangalam Birla</keyword>, the chairman of the Aditya Birla Group purchased American metal company Novelis, yet another Birla had set the stage to the group’s global dreams. That was his grandfather B K Birla, who passed away yesterday at the age of 98. 
 
 <div type="image" title="D8CE0603-CB95-448A-92AA-3473AE0C12E6_edited" msid="70068155" hostid="261" caption="&amp;lt;p&amp;gt;The grandsons of KK Birla, CS Nopany and Kumar Mangalam Birla carries the mortal remains with BK Birla watching&amp;lt;/p&amp;gt;"></div>




 BK Babu as he was lovingly called, is known to have fought and won many internal battles to take the group started by his great-grandfather to new heights. The first was taking manufacturing to Ethiopia, and its most illustrious one was to convince his father, G D Birla to enter the tea plantation business. 
	
 
 <div type="image" title="A98FD1D2-B3A5-45F8-8656-149CCC5E8C78_edited" msid="70068192" hostid="261" caption="&amp;lt;p&amp;gt;Rituals are being performed at B.K Birla&amp;#39;s house, in Kolkata&amp;lt;/p&amp;gt;"></div>





 This legacy came to an end on July 3 due to age-related ailments. The man who knew ‘hisab-kitab’ However, BK Babu was as industrious as he was full of fire and risks. And, he started young. A 13-year old BK was chided by an uncle about earning pocket money, and that led him to invest in shares. Within a year, he made Rs 4,000 profit. Needless to say, this budding genius was inducted into the family business, the very next year, kick starting his illustrious journey. Though he missed college, his family taught him the basics of business which is ‘hisab kitab’ or accounting. He wrote in his autobiography, Swanta: Sukhaya (For my Happiness Only) that he was put through a one-year programme learning accounting, keeping books and understanding bank statements. So deft was BK at this, that his employees could never ‘pad’ books, as he would catch any fudged number, immediately! He is known to go through his books in the middle of the month, a life-long discipline that he adhered to. Keeping his books clean, was one thing that ensured that there no big trouble at his companies. Love for photography BK was not all about business, though he attended office well into his 80s, on the fifteenth floor of Birla Building at BBD Bagh in Kolkata ---as he continued to remain the chairman of many companies in the group’s pulp to cement businesses. 
	
He was an avid photographer who carried on his passion well into his sixties. He is also a patron of arts and he and his wife Sarla helped set up the Birla Academy and an auditorium Kalamandir, a legacy which will remain long after he is gone. He is survived by his daughters and a grandson. His son, the father of Kumar Mangalam Birla, Aditya Vikram Birla, passed away in 1995. B K Birla’s funeral will be held on Thursday in Kolkata, as per his last wishes.

India’s business icon BK Birla passes away at 98 leaving behind a legacy of calculated risks

Telecom operator <keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> (VIL) will make significant <keyword id="6362476" type="General" weightage="20" keywordseo="investments" source="Orion">investments</keyword> to roll out <keyword id="764355" type="General" weightage="20" keywordseo="5g" source="Orion">5G</keyword> network and expand <keyword id="122479" type="General" weightage="20" keywordseo="4g" source="Orion">4G</keyword> coverage in the coming quarters, billionaire industrialist Kumar Mangalam <keyword id="39439" type="General" weightage="20" keywordseo="birla" source="Orion">Birla</keyword> said on Friday. Birla, chairman of Aditya Birla group, which is one of the shareholders of the troubled telco VIL, was speaking at the inaugural session of India Mobile Congress. "In the coming quarters, Vodafone Idea will initiate significant investments in order to roll out 5G networks and further expand 4G coverage across the country. Moreover, the company is determined to realise the government's vision of establishing a robust supply chain in critical and emerging areas, including Open RAN (Radio Access Network)," he said. Further, Birla said this endeavour will enable innovative Indian companies to design both hardware and software for the global markets. "India's digital ecosystem stands on the brink of unprecedented growth," Birla said.

VIL will make significant investments to roll out 5G network: Birla

<keyword id="6354955" type="PERSON" weightage="20" keywordseo="Kumar-mangalam-birla">Kumar Mangalam Birla</keyword>, chairman of the <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword> has been shortlisted for the post of chairman of the Indian Institute of Management, Ahmedabad. 
 Among the other people nominated for the post are <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> Chairman <keyword id="6448020" type="PERSON" weightage="20" keywordseo="Deepak-Parekh">Deepak Parekh</keyword> and <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> Chairman <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> as well. The names have been forwarded to the ministry for approval, a top official told the <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>. 
 In January this year, L&amp;T Chairman AM <keyword id="50744" type="PERSON" weightage="20" keywordseo="Naik">Naik</keyword> who was earlier holding this post had stepped down. In March, the institute had named <keyword id="63358" type="PERSON" weightage="20" keywordseo="Cadila-Healthcare">Cadila Healthcare</keyword> Chairman <keyword id="135342" type="PERSON" weightage="20" keywordseo="Pankaj-Patel">Pankaj Patel</keyword> as interim chairman.

IIM-A shortlisted K M Birla for
the post of chairman

How to read Kumar Mangalam Birla’s letter to the government

Chairman of the <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla group</keyword>, <keyword id="6354955" type="PERSON" weightage="20" keywordseo="Kumar-mangalam-birla">Kumar Mangalam Birla</keyword> said they are going to list Mauritius-based holding company for carbon black <keyword id="1629179" type="UNKNOWN" weightage="20" keywordseo="SKI-Carbon-Black">SKI Carbon Black</keyword> (India) Pvt Ltd in overseas markets, after consolidating the business. 
 The company will be either listed in <keyword id="117776" type="CITY" weightage="20" keywordseo="London-Stock-Exchange">London Stock Exchange</keyword> or New York Stock Exchange and it will take at least two years. 
 
Carbon black is a raw material used to make tyres and ink. 
 
The SKI Carbon Black’s listing would be the first listing by the group in the overseas market after Birla took over in 1995. 
 
Under Birla, the company went on to become world's largest carbon black maker with 2-million tonne capacity a year. 
 
Experts point out that after the listing, company will get a better leverage ratio and capital to expand both in India and overseas. 
 
Reportedly, in 2013, Aditya Birla Nuvo Ltd had divested its carbon black business to SKI Carbon Black (India) Pvt. Ltd, for Rs 1,451 crore. 
The company had then said in a filing to the BSE the Aditya Birla Nuvo's carbon black business, by itself, accounts for merely 2% of the global industry capacity. 
 
Moreover, in view of the company's capital commitment towards funding growth of its other businesses, it is extremely challenging for the company to become a global carbon black player.

You Searched For "kumar mangalam birla today" and got 7 results

Supreme Court sides with Ex PM Manmohan Singh, says appearance in court on April 8 not required

BI India Bureau

Yash Birla declared ‘willful defaulter’ by a bank that was founded by his great grand uncle

India’s business icon BK Birla passes away at 98 leaving behind a legacy of calculated risks

Katya Naidu

VIL will make significant investments to roll out 5G network: Birla

PTI

IIM-A shortlisted K M Birla for the post of chairman

BI India Bureau

How to read Kumar Mangalam Birla’s letter to the government

Business Insider India

One of Aditya Birla’s cos is heading for a London Stock Exchange listing soon

BI India Bureau

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