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Urea scam convicts sentenced to rigorous imprisonment

ANI  |  New Delhi [India] 

A special (CBI) court on Thursday sentenced two former senior officials of the Limited (NFL) to three years of rigorous imprisonment in connection with Rs. 133 crore urea scam that dates back to 1995.

CK Ramakrishnan, then CMD of Ltd and then have also been slapped with a fine of Rs 6 lakh each.

The court also sentenced former Narasimha Rao's nephew - B Sanjeeva Rao to three years of rigorous imprisonment with a fine of Rs. 1 crore.

Two Turkish nationals, Tunkay Alankus and Cihan Karanchi, were also sentenced to rigorous imprisonment of six years and a fine of Rs 100 crore each for the scam.

The case pertains to a fraudulent deal, signed in January 1995, with a Turkish company, to supply two lakh metric tonnes (MT) of urea to Limited that was never delivered.

The accused persons entered into criminal conspiracy and cheated to the tune of Rs. 133 crore.

After an investigation, chargesheet was filed in the year 1997 and all the accused were convicted following a trial.

Three other convicts- M. Sambasiva Rao, Prakash Chand Yadav and D. Mallesham Gaud have also been sentenced to three years of rigorous imprisonment.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 04:50 IST