Nephew of former PM Narasimha Rao sentenced to three years jail for 133 crore urea scam

B Sanjeeva Rao – the nephew of former Prime Minister Narasimha Rao has been sentenced to three years in jail by a CBI court in connection with the 133 crore urea scam, Times of India has reported. He has also been fined Rs 1 crore by the court.

Besides’s Rao, those sentenced include:

  • Former fertiliser minister Ram Lakhan Singh Yadav’s son – Prakash Chand Yadav, jailed for three years
  • CK Ramakrishnan – erstwhile CMD of National Fertilisers limited, jailed for three years
  • DS Kanwar and Sambasiva Rao – erstwhile Executive Directors, jailed for three years
  • D Mallesham Gaud – Businessman, jailed for three years
  • Two Turkish nationals and executives of Karsan limited – Tuncay Alankus and Cihan Karanchi, jailed for six years and filed Rs 100 crore each

As detailed by PTI, the scam dates back to 9 January 1995, when Turkish national Tuncay Alankus signed a contract with National Fertilisers Limited to supply them with with 2 lakh metric tonnes (MT) of urea priced at $190 per MT, on the condition that the total amount of approximately Rs 133 crore, would be paid upfront.

- Advertisement - - Article resumes -

Subsequently after first paying $380,000 for insurance reasons, the National Fertilisers Limited credited the remaining amount in the bank account of Karsan limited on 29 November 1995. The bank account of Karsan was held in Geneva’s Pictet bank.

Even though the full amount was credited in the company’s account, it failed to supply the urea and it was subsequently alleged that Alanus had dishonestly transferred the amount in various bank accounts. It was also alleged that the accused Indian nationals too received money via hawala channels.

The CBI stepped into the matter on 19 May 1996, by registering a case in the matter and then subsequently filing a chargesheet in 1997.

Share and Support:
Support OpIndia by paying for content

Most read articles recently

‘Will not develop areas which did not vote for me’: Rajasthan Congress MLA shortly after winning

Rajender Singh Bidhuri fought and won a close battle against BJP MLA Suresh Dhakad with a margin of 1661 votes.

Here is why BJP lost elections, and of course, it was deliberate

What BJP supporters need to realise is this - no political party ever wants to lose and least of all, a party led by the two most politically aggressive politicians the country has ever seen.

Ranchi: Court summons Rahul Gandhi for his defamatory remarks against Amit Shah

The petitioner submitted that the statement by Rahul Gandhi against Amit Shah had hurt his sentiments and tarnished the image of the party.

India cannot turn into Islamic Nation, only Modi can understand gravity and do needful: Meghalaya HC

There should be uniform law for all Indian citizens, and anybody opposing the Indian laws and constitution cannot be considered as citizens of the country, Meghalaya High Court noted

Priyanka Gandhi part of selection process of Congress CM in the state where her husband faces probe

Priyanka Gandhi's husband, Robert Vadra, was recently summoned for the third time by the Enforcement Directorate in the Bikaner land deal money laundering case after he missed the first two.

BJP has lost the digital and social media edge, but it is not too late to recover

Talented supporters are BJP's key asset. If things start moving now BJP will be able to recover the edge lost by 'IT cell'. The time to act is now.

Teenage actor who acted in film ‘Haider’, joined Lashkar-e-Taiba, neutralised in encounter

Police confirmed that the two teenagers had joined the Lashkar-e-Taiba, immediately after they went missing on August 31

For all his angst against Adani, Rahul Gandhi chose Kamal Nath who rallied behind Adani for power plant in Chhindwara

Kamal Nath is believed to be close to Gautam Adani, whom Rahul Gandhi has frequently accused of being a 'crony capitalist'

BJP’s real woes: Lessons from the electoral semi-finals

The prolonged silence of Prime Minister Narendra Modi and BJP President Amit Shah on election results was very telling. The results were clearly unexpected and possibly led to prolonged internal discussions on the future course of action.

Congress friendly journalist wishes death upon BJP Delhi spokesperson Tajinder Bagga

During the run-up to Gujarat assembly elections last year, Trivedi was caught spreading morphed images with Amit Shah's fake quotes on Patidars

Latest articles

Connect with us

125,628FansLike
97,821FollowersFollow
6,064SubscribersSubscribe

Don't miss these