In June 2020, IFB Agro had made another exchange filing in connection with an attack by “a group of more than 150 armed goons” on its distillery in Noorpur of West Bengal’s South 24-Parganas.
In December that year, the company again brought up the June attack in an exchange filing, stating that no offenders have been brought to book yet, despite it requesting help from Chief Minister Mamata Banerjee as well as the finance, commerce and industry ministers of the state.
IFB Agro had said that its alcohol business was “under threat”.
In Friday’s statement, signed by the company’s Chief Financial Officer (CFO) Rahul Choudhary, and filed with the exchanges, the company said that in the wake of “such issues” and in “best interest of the company” have approved contributions to political parties of not more than Rs 40 crore.
In June 2020, IFB Agro had made another exchange filing in connection with an attack by “a group of more than 150 armed goons” on its distillery in Noorpur of West Bengal’s South 24-Parganas.
In December that year, the company again brought up the June attack in an exchange filing, stating that no offenders have been brought to book yet, despite it requesting help from Chief Minister Mamata Banerjee as well as the finance, commerce and industry ministers of the state.
IFB Agro had said that its alcohol business was “under threat”.
In Friday’s statement, signed by the company’s Chief Financial Officer (CFO) Rahul Choudhary, and filed with the exchanges, the company said that in the wake of “such issues” and in “best interest of the company” have approved contributions to political parties of not more than Rs 40 crore.
https://theprint.in/india/excise-issues-affecting-company-why-ifb-agro-capped-its-political-funding-at-rs-40-cr-for-fy23/900370/