Kumar Mangalam Birla

Birla said the company will have to opt for insolvency route in the absence of relief

The group will be making these investments in various business segments ranging from textiles and chemicals to mining and minerals.

In an interview to CNBC-TV18's Nisha Poddar, Kumar Mangalam Birla, Chairman of the Aditya Birla Group spoke about the impacts of GST on his company and the way forward from here.

Industrialist Kumar Mangalam Birla-owned Aditya Birla Nuvo and Idea Cellular own 51 percent and 49 percent stake in payments bank, respectively.

It is about the coming together of two companies who have huge synergies in terms of assets that they own, says Kumar Mangalam Birla, Chairman of Aditya Birla Group.

Watch accompanying videos of SBI Economic Conclave wherein Arundhati Bhattacharya, Chairman of SBI is speaking to an elite panel which consist Kumar Mangalam Birla, Chairman of Aditya Birla Group, Chanda Kochhar, MD & CEO of ICICI Bank and Anand Mahindra, Chairman of Mahindra Group.

Forbes India has released the annual India rich list and Reliance Industries' Chairman Mukesh Ambani has topped the Forbes' '100 Richest Indians' list with a net worth of USD 22.7 billion.

Nisha Poddar of CNBC-TV18 was joined by Puneet Dalmia of Dalmia Bharat, Anil Singhvi of Ican Investments Advisors and Vikram Hosangady of KPMG to understand the big deal between JP Associates and UltraTech Cement, and other deals in the offing.

In an interview with CNBC-TV18, Kumar Mangalam Birla, Chairman of Aditya Birla Group, talked about the impact Brexit may have on the global economy and how he sees reforms that the NDA government has undertaken.

CNBC-TV18's Ritu Singh caught up with Kumar Mangalam Birla, Chairman of Aditya Birla Group. He says the government is not wrong in imposing a minimum import price (MIP) for steel products at a time when other countries are doing all they can to safeguard their domestic industry.

The deal of 2015 that stands out the most is the buyout of Mumbai's iconic Lincoln House by the suave deal maker Cyrus Poonawala from the US government worth a whopping Rs 750 crore making it the largest residential real estate deal in the country.

SP Tulsian of sptulsian.com is of the view that Kesoram Industries may test Rs 100 in next three months and Rs 120 in the next six months.

Kumar Mangalam Birla, chairman, AB Group expects the company's retail business vertical to have a revenue of more than USD 5 billion.

Acquisition of the Gujarat units of Jaypee Cement Corporation Limited has been completed and the acquired facilities comprise an integrated unit at Sewagram and a grinding unit at Wanakbori, with a combined capacity of 4.8 MTPA.

In a major consolidation exercise, Aditya Birla Group on Sunday merged its apparel businesses into a Rs 5,290 crore entity named ABFRL, which will be the largest pure-play fashion lifestyle company in the the country. In an interview to CNBC-TV18, Kumar Mangalam Birla, Chairman of Aditya Birla Group shares his outlook on the same.

A special CBI court had summoned him as an accused on the April 8. The summons were in connection to the allocation of the Talabira coal blocks to Hindalco in 2005.

Salve says: “The allegations are all about why the prime minister changed the rules as it were and made the allocation. Hindsight will always tell you whether these decisions were right or wrong. There can be a difference on what the decision should be.”

A special court had summoned Singh along with industrialist Kumar Mangalam Birla, ex-coal secretary P C Parakh and three others as accused in a case pertaining to allocation of Talabira-II coal block in Odisha in 2005 and asked them to appear before it on April 8.

Singh, who ran the Congress-led government for a decade until last year, has been summoned on April 8 by a special CBI court of inquiry, a second legal source familiar with the matter told Reuters.

Singh's examination was in connection with a coal scam case relating to allocation of Talabira II block to Hindalco when he was also holding the portfolio of Coal and in pursuance of the court's December 16 order.