The Central Bureau of Investigation (CBI) is carrying out raids on Wednesday at 12 locations across the country in connection with a Corruption case on the basis of reference from the Ministry of Chemical and Fertilizer.
CBI Spokesperson R. C. Joshi said that the premiere investigation agency has registered a case against Mr. U. S. Awasthi, MD of Indian Farmers Fertilizer Co-operative Ltd (IFFCO) and Pravinder Singh Gahlaut, MD of Indian Potash Ltd (IPL) and several other individuals in connection with a corruption case and the searches are being carried out at at least 12 locations of Delhi, Mumbai, Gurgaon, Sonepat and Himachal Pradesh. The sleuths have found Rs. 8.80 lakh cash from Mr. Awasthi’s premises, besides the FDR of over Rs. 5.5 Cr in the name of Mr. Gahlaut and his family members and 14 bank accounts. The CBI has also recovered the documents of 19 immovable properties in Delhi, Mumbai, Gurgaon and Sonepat.
“The CBI has registered a case on the basis of reference from the Department of Fertilizer under the Ministry of Chemical and Fertilizer and also on the other information, against Awasthi, MD of IFFCO, Gahlaut, MD of IPL, Amol Awasthi and Anupam Awasthi, both sons of the IFFCO MD and also promoters of Catalyst Business Associates Pvt Ltd, Vivek Gahlaut, son of the MD of IPL Gahlaut, Pankaj Jain, Jyoti Group of Companies and Rare Earth Group, Dubai, Sanjay Jain, brother of Jain and also President of Jyoti Trading Corporation and beneficial owner of other entities of Jyoti Group, Amrinder Dhari Singh, Sr. Vice President of Jyoti Trading Corporation, Dubai,” he said.
The CBI is carrying out searches at the office and residential premises of the accused in 12 locations including Delhi, Gurgaon, and Mumbai etc. Investigation is going on.
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. It has been stated that the fertilizers are supplied to the farmers in India and the Government of India has been providing subsidy on fertilizers to facilitate supply of fertilizers to the farmers at reasonable rates. It was also alleged that in order to cheat Govt. 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 the MD of IFFCO & MD of Indian Potash Ltd, which was paid / transferred by the Overseas Suppliers to the accused officials through sham transactions involving the said accused .
