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CBI court sentences former PM's kin in Urea scam, fine two Turkish nationals Rs 100 crore eac  2 Months ago

Source:   Times Of India  

NEW DELHI: A Special CBI Court in Delhi on Thursday sentenced former Prime Minister Narasimha Rao's nephew - B Sanjeeva Rao for three years rigorous imprisonment (RI) with a fine of Rs 1 crore; two Turkish nationals - Tuncay Alankus and Cihan Karanchi for 6 years RI with a fine of Rs 100 crore each and others in Rs 133 crore Urea Scam.

Others sentenced by Special CBI court include - C K Ramakrishnan (former CMD of National fertilizer Limited), D S Kanwar (former executive director - marketing - NFL), both to undergo 3 years of Rigorous Imprisonment with fine of Rs 6 lakh each, one M Sambasiva Rao for 3 years RI with fine of Rs 5 crore, Prakash Chand Yadav for 3 years RI with fine of Rs 1.01 crore and D Mallesham Gaud to undergo 3 years RI with fine of Rs 5 crore.

CBI had registered a case (known as Urea Scam Case) on May 19, 1996, against CK Ramakrishnan and others. It was alleged that accused persons entered into criminal conspiracy and cheated National Fertilizer Limited to the Tune of Rs 133 Crore. In furtherance of conspiracy accused Tuncay Alankus of Turkey signed a contract dated January 9, 1995 to supply 200000 MT of urea @ US$ 190 MT on prepayment of 100% price about $38 million equivalent to Rs 133 Crore(approx). Tuncay Alankus received $380000 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 at Pictet Bank, Geneva, Switzerland but they did not supply urea to NFL.

CBI had filed a chargesheet in the matter in 1997.
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