CBI books former IFFCO MD in corruption case, searches 12 locations
The Central Bureau of Investigation (CBI) on Wednesday registered a case towards U.S. Awasthi, the then MD and CEO of IFFCO, Pravinder Singh Gahlaut, the then MD, Indian Potash Ltd (IPL) and a number of other others in a corruption case. The probe company additionally carried out searches at 12 locations throughout the nation.
“The CBI has registered a case on the basis of references from Ministry of Chemical and Fertilizer and also on other information, against Awasthi, then MD and CEO, Indian Farmers Fertilizer Co-operative Ltd (IFFCO), Gahlaut, then MD of IPL, Amol Awasthi and Anupam Awasthi, both sons of then IFFCO MD and CEO and also promoters of Catalyst Business Associates Pvt Ltd, Vivek Gahlaut, son of then MD of IPL Gahlaut, Pankaj Jain, Jyoti Group of Companies and Rare Earth Group, Dubai, Sanjay Jain, brother of Jain and also President of Jyoti Trading Corporation and beneficial owner of other entities of Jyoti Group, Amrinder Dhari Singh, Sr Vice President of Jyoti Trading Corporation, Dubai,” a CBI assertion learn.
The investigating company has additionally named Rajiv Saxena, a Chartered Accountant, Promoter, Midas Metal International LLC and different corporations, Sushil Kumar Pachisia, worker of Pankaj Jain, unknown Directors of IFFCO and unknown others.
According to CBI Spokesperson, the criticism alleged that IFFCO and IPL have been importing enormous portions of fertilizers working into a number of 1000’s of MTs and uncooked supplies for fertilizers from numerous international suppliers. It has been acknowledged that the fertilizers are equipped to the farmers in India and the Government of India has been offering subsidy on fertilizers to facilitate provide to the farmers at cheap charges, he mentioned.
The criticism additionally claimed that in order to cheat authorities by claiming increased subsidy, these officers of IFFCO and IPL have been importing fertilizers and uncooked supplies by means of Kisan International Trading FZE in Dubai, a subsidiary of IFFCO and different middlemen at extremely inflated charges protecting the fee meant for the accused together with then MD of IFFCO after which MD of IPL, which was paid or transferred by the abroad suppliers to the accused officers by means of sham transactions involving the mentioned accused.
The probe company mentioned that searches are being carried out on the workplace and residential premises of accused in 12 locations together with Delhi, Gurgaon, Mumbai and so forth.
