The Hindu : National : ‘No enemies or friends in industry’

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Sunday, Dec 02, 2007
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‘No enemies or friends in industry’

Sujay Mehdudia

Chidambaram clarifies on Sterlite Industries case

NEW DELHI: Refuting the charges levelled by Samajwadi Party member Amar Singh that he was favouring an industrial house or friends, Union Finance Minister P. Chidambaram on Saturday asserted in the Rajya Sabha that “he had no friends or enemies” in the industry.

Replying to a debate on two Bills seeking supplementary grants totalling Rs.33,290 crore to his Ministry, Mr. Chidambaram said the member concerned had raised the matter about Sterlite Industries on a number of occasions in the past.

Asserting that he was setting the record straight, Mr. Chidambaram said it was during the NDA regime that a demand of Rs.243 crore was raised against the company in question. However, the company approached the Income Tax Tribunal, filing an appeal against the demand raised by the government. The Ministry defended its case and the verdict in 2005 went in its favour. The company appealed in the High Court and again the government defended its position and won the case, he pointed out. “The company has now gone to the Supreme Court and we will again defend our position and I am sure we will win the case,” he said.

Mr. Chidambaram said there were many industrialists sitting in the Upper House and nobody could claim to be “a close friend of mine or having got some favour done from me.”

Mr. Singh stated that he was fully satisfied with the reply given by the Minister.

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