Friday, Oct 31, 2014

Ex-official, son under CBI scanner in Kribhco pay-off case

Express News Service | New Delhi | Posted: February 5, 2014 3:11 am

The Central Bureau of Investigation (CBI) is examining the alleged pay-off of $1 million made to a former bureaucrat and his son by Norwegian fertiliser major ‘Yara’ for securing a joint venture with Krishak Bharati Cooperative Limited (Kribhco) in 2007.

The agency said they had recently received the complaint and are investigating it but have not yet finalised a preliminary enquiry as some reports are awaited.
The CBI had recently obtained statements from Yara and the Norwegian prosecution agency Okokrim, naming the official and his son as suspects in the case.
The agency said that they will soon be examining them. The case relates to the transfer of over $1 million in the offshore accounts allegedly in their name.
Yara had accepted a penalty of 270 million Norwegian kronor imposed by Okokrim on the alleged payoffs made to a “consultant” for an unrealised joint venture project in India. Kribhco has denied the allegations.

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