23 July, 2021

Thus Spake Sambasiva

The text of Sambasiva Rao's statement, which forms the basis of CBI investigations:

Thus Spake Sambasiva
outlookindia.com
-0001-11-30T00:00:00+05:53

"Shri M. Sambasiva Rao, CEO of M/s Sai Krishna Impex, Hyderabad, during interrogation has revealed that he was asked by Sanjeeva Rao to meet Shri C.K. Ramakrishnan, MD of NFL, during 1995 for getting a contract signed between M/s Karsan Ltd and NFL for supply of two lakh MT of urea to NFL by M/s Karsan Ltd, Turkey, atthe rate of US $190 per metric tonne."

"He also disclosed that he had met C.K. Ramakrishnan and D.S. Kanwar, managing director and executive director (marketing) respectively of NFL on 31.10.95 and 1.11.95 respectively and got their approval for (the) contract to be entered into between NFL and Karsan Ltd against 100 per cent pre-payment of the entire contract amount i.e. US $38 million (Rs 133 crore). He also disclosed that the payment was made in November '95 to M/s Karsan Ltd in advance in their a/c in Pictet Bank, Geneva." "He further disclosed that the payoff/kickback of US $4 million was credited in the account of M/s Edible Food Stuffs in Standard Chartered Bank, Dubai."

"Later on, the...

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