CBI court sentences former PM Narasimha Rao’s nephew in Urea scam | India News

NEW DELHI: Former Prime Minister PV Narasimha Rao’s nephew B Sanjeeva Rao was sentenced to three years of rigorous imprisonment and fined Rs 1 crore by a special CBI court on Thursday in the Rs 133 crore urea scam. Prakash Chand Yadav, son of former fertilisers minister Ram Lakhan Singh Yadav, was awarded three years’ RI and a fine of Rs 1.01 crore.

Six others, including two Turkish nationals, were also given jail terms and fined.

While the then CMD of National Fertilizer Limited (NFL), CK Ramakrishnan, and then ED (marketing) DS Kanwar were sentenced to three years’ RI and fined Rs 6 lakh each, then NFL executive director M Sambasiva Rao was handed three years’ RI and fined Rs 5 crore. The two Turkish nationals — Tuncay Alankus and Cihan Karanchi — were sentenced to six years’ RI and fined Rs 100 crore each. Businessman D Mallesham Gaud was given three years’ RI along with a fine of Rs 5 crore.

The CBI had registered a case on May 19, 1996 alleging that the accused entered into criminal conspiracy and cheated NFL of Rs 133 crore. Alankus signed a contract on January 9, 1995 to supply 2lakh MT of urea at $190/MT on an advance payment of about $38 million equivalent to Rs 133 crore (approx).

Alankus received $3,80,000 on November 2, 1995 as advance for insurance purpose and $37.62 million from NFL on November 14, 1995 which was credited in the account of M/s Karsan Ltd on November 29, 1995 at Pictet Bank, Geneva. However, they did not supply urea to NFL. Following an investigation, a chargesheet was filed in 1997.

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