Party General Secretary Prakash Karat said there is sufficient material available to show that the Tatra truck deal was done in a fashion that it requires investigation.
"Natarajan as BEML chief has a role and responsibility. It is good that the Defence Ministry has decided to suspend him," he told reporters.
Natarajan, CMD of the government-run BEML, was suspended by the Defence Ministry on a CBI recommendation to ensure fair investigation against him in the controversial Tatra truck deal and other cases.
He is being questioned by the CBI in a case regarding alleged irregularities in procurement and supply of Tatra all terrain vehicles to army.
Gen V K Singh, who retired on May 31 after holding the post of the Army chief for over two years, had alleged in March that he was offered Rs 14 crore bribe by Lt Gen (retd) Tejinder Singh to clear supply of a tranche of 600 "sub-standard" Tatra trucks from BEML.
The CBI has also booked the BEML chairman for alleged cheating, criminal conspiracy and corruption in connection with tendering process for hiring a private consultancy firm and carried out searches at several locations including his residence.
The case related to award of contract for the implementation of Enterprises Resource Planning Project in the public sector undertaking during 2004-09.