CBI FIR won't impact Aditya Birla Group's bid for banking licence

The Aditya Birla Group's bid for a bank licence is unlikely to be thwarted just because chairman Kumar Mangalam Birlahas been named in a CBI first information report, according to top officials involved in the process. "Birla's bid to get a banking licence will not be foiled just because of allegations made in the FIR," said one of the officials, none of whom wanted to be named.  The coal block allocation case is at a very preliminary stage and "on the face of it there isn't any conclusive evidence of wrongdoing against the chairman of the group," an official said.  

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