Transfer of urea money was pre-meditated: CBI

Ojha said the letters regarding the transfer of the money to the bank were prepared in advance on November 23, 1995, by the Karsan officials, while the account was opened afterwards.

Four million dollars were transferred to the account of one B S Lagu of Dubai and 3.42 lakh went to the insurance company of London which had arranged marine insurance cover for the failed8217; contract, he said.

Two lakh dollars weretransferred to the the account of Karsan8217;s Indian agent M Sambasiva Rao in his account with ANZ Grindlays Bank of Hyderabad and an equal amount was sent by the Karsan executives to a firm, Maliyan Holdings in the US, the CBI counsel alleged.

The major part of the amount 28.10 million went into the personal account no. 91925 of Karsan executive Tunkay Alankus in the Pictet Bank while 1.10 million was transferred in his colleague Cihan Karanci8217;s personal account no. 91924, in the same bank, Ojha told the special court.