Govt seeks copy of Norwegian probe that indicted Yara

Image
Press Trust of India New Delhi
Last Updated : Feb 18 2014 | 6:00 PM IST
The Fertiliser Ministry has sought a copy of the findings of the inquiry by Norwegian authorities that indicted Yara International for allegedly paying bribe to a former Indian bureaucrat.
In a written reply to the Lok Sabha, Fertiliser Minister Srikant Jena said that the ministry has received newspapers reports regarding fertiliser scam involving a former officer of the department, Kribhco and Norwegian fertiliser company Yara International.
Further, he said, the Central Vigilance Commission has forwarded copies of news items regarding this case.
"The Department of Fertiliser has taken up the matter with Ministry of External Affairs to obtain a copy of the report/findings from the Norwegian authorities through Indian Mission in Norway," Jena said, adding that the department has sought comments of fertiliser co-operative Kribhco in this matter at the earliest.
"The matter will be further examined on receipt of report from MEA and comments from Kribhco," he added.
The matter is related to 2006-07 when Yara was negotiating with Kribhco for setting up a joint venture project.
In January this year, Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime imposed a hefty fine of about USD 48 million on Yara for bribing a senior Indian government official and entities in Libya and Russia.
Then, Norwegian police indicted three former senior management executives of Yara International for paying bribe to a senior Indian bureaucrat in the Fertiliser Ministry.
Yara International had appointed the law firm Wiersholm to conduct external investigation in this matter in April 2011.
The company released the main findings of investigation in June 2012 which said that "an unacceptable payment of USD 1 million in 2007 to a consultant in India is documented, related to negotiations with Krishak Bharati Cooperative Ltd (Kribhco)".
Meanwhile, CBI has started an inquiry into an alleged pay-off of USD one million made to a former bureaucrat and his son by Yara for securing a joint venture with Kribhco.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 18 2014 | 6:00 PM IST

Next Story