IFB Agro urges West Bengal Govt. to intervene as its alcohol business is ‘under threat’; stock gains 2%

The company alleged that it has been singled out by certain excise officials for not succumbing to their ‘illegal demands’.

Dec 23, 2020 09:12 IST India Infoline News Service

IFB Agro Industries Limited has alleged that its alcohol business is under threat, as it has been singled out by certain excise officials for not succumbing to their illegal demands and have requested the Chief Minister of West Bengal and also Finance, Commerce and Industry Minister of the state to look into the matter.

At around 9.41 am, IFB Agro Industries Ltd was trading at Rs498.65 per piece up Rs9.75 or 1.99% on the BSE.

The company had informed that its Distillery, which is situated in Noorpur, South 24 parganas, West Bengal “was attacked on June 25, 2020, by a group of more than 150 armed goons resulting in forced closure of the Distillery. Necessary complaint was made to the local police station. The operations at the distillery resumed on July 2, 2020 after the police protection was provided by the Local Authorities. However, till date no offenders have been brought to book,” company said in a regulatory filing on Tuesday.

“The Alcohol business of the company has been suffering - and is under threat, as we have been singled out by certain excise officials for not succumbing to their illegal demands – have requested the Hon'ble Chief Minister of West Bengal and also from Hon'ble Finance, Commerce and Industry Minister of the State of West Bengal to look into/investigate the same,” it added.

Related Story

Open Free Demat Account (Rs699)