CBI registers cases against ex MD of IFFCO, ex MD of IPL, raids 12 locations
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The Central Bureau of Investigation (CBI) has registered a case against the former Managing Director and CEO of Indian Farmers Fertilizer Co-operative Ltd (IFFCO) and former MD of Indian Potash Ltd (IPL) in connection with corruption and raided 12 locations in this regard.
The accused were charged with importing fertilizers and raw materials at highly inflated rates to claim higher subsidies from the government.
U S Awasthi, the then MD & CEO, IFFCO, and Pravinder Singh Gahlaut, then MD, IPL conspired with a few private companies and their promoters to import fertilizers and raw materials through Kisan International Trading FZE in Dubai (a subsidiary of IFFCO) and other middlemen at highly inflated rates including the commission meant for Awasthi and Gehlot, CBI spokesperson R C Joshi said.
The investigative agency conducted searches at the office and residential premises of the accused in 12 locations including Delhi, Gurgaon, and Mumbai.
The case was registered by the CBI on complaints of the Ministry of Chemical and Fertiliser.
Investigation is on.
