The MD of Indian Potash Company, including IFFCO, is accused of using the subsidy claim unfairly and taking advantage of it. In this connection, the CBI raided his 12 bases.
CBI took action
CBI has tightened its grip on US Awasthi, the managing director and CEO of the country’s renowned fertilizer company IFFCO and Parvinder Singh Gehlot, the managing director of Indian Potash Limited (Indian Potash). A case of corruption has been filed on them. It is alleged that the owners of both the well-known companies have committed fraud in the subsidy claim by throwing dust in the eyes of the government. Along with this, they have earned a lot of money.
Under this, the CBI on Wednesday raided IFFCO and Indian Potash Company owners, including 12 locations in Delhi, Mumbai and Gurgaon. During the investigation, 8.80 lakh cash was received from Awasthi’s house and FD of Rs 5.76 crore in the name of Gehlot and his family members. Apart from this, 14 other bank accounts and 19 property details have also been found from Gehlot’s house. It is being told that these properties are in Mumbai, Himachal Pradesh, Delhi and Haryana.
Allegations of fraud in import and subsidy claims
The CBI alleges that the Farmers Cooperative IFFCO and the Managing Director of Indian Potash Ltd have made a mess in claiming fertilizer imports and subsidies. They used to import fertilizers from abroad at expensive prices and used to get more subsidy on it from the government. Not only this, they used to take their commission from the supplier as well. CBI spokesperson RC Joshi issued a statement saying that both the well-known companies were cheating the government by claiming subsidy and Kisan International Trading was importing fertilizers at an expensive price through FZE.
A case was also filed against them
The CBI has also filed a case against IFFCO and MD of Indian Potash Company, promoter of Catalyst Business Associate and son Amol of Awasthi and Anupam, Pankaj Jain, Sushil Kumar Pachisia and some other directors of IFFCO, promoters of Catalyst Business Solutions.
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