Former PM Narasimha Rao's nephew sentenced to three years' rigorous imprisonment for Rs 133 crore urea scam

A special CBI court in Delhi on Thursday sentenced two former senior officials of the to three years' rigorous imprisonment and fined them Rs 6 lakh each for the 1995 scam.

Published: 12th July 2018 11:37 PM  |   Last Updated: 12th July 2018 11:37 PM   |  A+A-

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Express News Service

NEW DELHI: A special CBI court in Delhi on Thursday sentenced two former senior officials of the National Fertilizer Limited (NFL) to three years' rigorous imprisonment and fined them Rs 6 lakh each for the Rs 133 crore urea scam that dates back to 1995.

Former Prime Minister Narasimha Rao's nephew B. Sanjeeva Rao, also an accused, has been sentenced to three years' rigorous imprisonment as well, with a fine of Rs 5 crore.

Two Turkish nationals, Tunkay Alankus and Cihan Karanchi, face rigorous imprisonment of six years and a fine of Rs 100 crore each for the scam, which pertains to a fraudulent deal with the miniratna company to sell urea that was never delivered.

Former NFL CMD CK Ramakrishnan and its executive director for marketing, D.S. Kanwar, were earlier convicted of involvement in the criminal conspiracy centred on a deal, signed in January 1995 with a Turkish company, Karsan Limited, to supply two lakh metric tonnes (MT) of urea to the company at $190/MT.

The deal called for the entire payment, $38 million or approximately Rs 133 crore, to be made before the consignment was delivered.

While the money was paid in November 1995, the urea was never delivered.

Three other convicts have also been sentenced to varying periods of jail - M. Sambasiva Rao, Prakash Chand Yadav and D. Mallesham Gaud.

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