Business Standard

How to hit the job creators

IFB Agro charged it was 'singled out by certain excise officials for not succumbing to their illegal demands'

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Debashis Basu
On April 1, IFB Agro notified the stock exchanges that its board of directors had approved a contribution of up to Rs 40 crore to electoral bonds for 2022-23 when its last reported annual profit was Rs 47 crore in 2020-21. Why was it giving away so much? IFB Agro was officially paying extortion or ransom money in the garb of electoral bonds. This is obvious because the disclosure mentions “excise-related issues faced by the company” and that its decision about political contribution was in the context of “such issues”. In plain language, to avoid harassment and extortion by the
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