CBI books the then MD & CEO of IFFCO Ltd & others

by Dikhyaa Mohanty

A case has been registered by the Central Bureau of Investigation against the Former Managing Director and CEO of Indian Farmers Fertilizer Co-operative Ltd. (IFFCO), the Former MD of Indian Potash Limited and others.

According to the reports, the case has been registered based on references from the Ministry of Chemical & Fertilizer, Department of Fertilizers, (Govt. of India) and those who booked are U S Awasthi, the former MD & CEO of IFFCO and Pravinder Singh Gahlaut, the former MD of Indian Potash Ltd.

The report further added that it was alleged that IFFCO and Indian Potash Limited have been importing huge quantities of fertilizers running into several thousands of MTs and raw materials for fertilizers from various foreign suppliers.

Earlier the fertilizers were supplied to the farmers in India and the Government of India has been providing subsidy on fertilizers to facilitate the supply of fertilizers to the farmers at a very reasonable price.

But it was also alleged that to cheat the Government of India by claiming higher subsidy, these officials of IFFCO and Indian Potash Limited have been importing fertilizers and raw materials through M/s. Kisan International Trading FZE in Dubai (a subsidiary of IFFCO) and other middlemen at highly inflated rates covering the commission meant for the accused including then MD of IFFCO & then MD of Indian Potash Ltd, which was paid/transferred by the Overseas Suppliers to the accused officials through sham transactions involving the said accused.

Searches were carried out at the office & residential premises of the accused in 12 locations including Delhi, Gurgaon, Mumbai etc, said people with direct knowledge of the matter.

Image Source – Google


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