Businessmen Facing Sharp Scrutiny In India

Accused of giving a bribe of 30 lakh to New Delhi Municipal Corporation functionaries, the CBI arrested Micromax co-founder Rajesh Agarwal and 6 others.

One of the most high profile investigations that India has witnessed so far is related to allotment of natural resources coal and spectrum. The CBI has filed 14 FIRs so far that include allotment of coal blocks from 2004 to 2009.

High profiles like Jindal Steel and Power of Naveen Jindal, Rathi Steel and Power, Hindalco as well as Anil Ambani and Essar Groups came under spectrum investigations. Over allegations of insider trading, Mukesh Ambani’s Reliance Industries was also investigated by Securities and Exchange Board of India.

The exposure of the spectrum scam to some extent was possible because of independent vigilantes like social activist Prashant Bhushan, who are armed with Right to Information Act.

However, few believe that people are misusing the right to access and the current scenario reflects crony capitalism in the country. "There have been instances of misuse of access; we have to accept this," says Gopalakrishnan, President of confederation of Indian Industry and Infosys Vice-chairman. A senior CBI investigator said that corporate rivalry also influences such cases. 

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