A Delhi CBI court on Thursday sentenced the former National Fertilizer (NFL) chairman and managing director, two Turkish nationals and five others to rigorous imprisonment of three to six years, besides slapping fines ranging from Rs 6 lakh to Rs 100 crore in the urea scam case.
While CK Ramakrishnan, former CMD of NFL, and DS Kanwar, former executive director (marketing) of the company, have been sentenced to three years’ rigorous imprisonment with fine of Rs 6 lakh, two Turkish nationals — Tuncay Alankus and Cihan Karanchi — have been sentenced to six years’ rigorous imprisonment with fine of Rs 100 crore each.
M Sambasiva Rao will undergo three years’ rigorous imprisonment with a fine of Rs 5 crore, B Sanjeeva Rao three years’ rigorous imprisonment with a fine of Rs 1 Crore, Prakash Chand Yadav three years’ rigorous imprisonment with a fine of Rs 1.01 crore and D Mallesham Gaud will undergo three years’ rigorous imprisonment with a fine of Rs 5 crore.
CBI had registered the case on May 19, 1996 against Ramakrishan and others. It was alleged that the accused entered into criminal conspiracy and cheated NFL to the tune of Rs 133 crore.
In furtherance of conspiracy, Alankus signed a contract on January 9, 1995 to supply 2,00,000 tonnes of urea at the rate of $190 per tonne on pre payment of 100 per cent price (about $38 million or Rs 133 crore). Alankus received $380,000 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 Karsan on November 29, 1995 at Pictet Bank, Geneva, but they did not supply urea to NFL.
After thorough investigation, a chargesheet was filed in 1997. After trial, the special CBI judge convicted Ramakrishnan, Kanwar, Sambasiva Rao, Alankus, Karanci, Sanjeeva Rao, Yadav and Mallesham Gaud.