 "CBI starts probe into 2007 Norwegian fertiliser company case")
Central Bureau of Investigation has started an inquiry into the alleged kickbacks paid to a former finance ministry official and his son by Norwegian fertiliser company Yara in 2007. CBI is probing into an alleged bribe of over $1 million paid by Yara to the bureaucrat for signing up a joint venture with Krishak Bharati Cooperative Limited.
CBI spokesperson said that a preliminary enquiry is likely to be registered soon based on the probe of Norwegian prosecution agency Okokrim, which is also investigating this matter. Okokrim has named the government official and his son as suspects in its case. CBI will also soon question the duo for their alleged involvement in this scam.
According to Okokrim investigations, Yara was involved in serious fraud involving payment of bribes of more than $12 million to public servants in Libya and India. The company has been made liable to pay a fine of $48.3 million for the lapses it committed. “The punishment is hard, but we accept it,” Yara’s chairman, Bernt Reitan, said in a statement as reported by Norway’s media. The company had itself reported the bribery incidents to Okokrim and admitted guilt based on the findings of its own investigation in 2011.
Yara in June 2012 had released the main findings of the investigation which said that "an unacceptable payment of $1 million in 2007 to a consultant in India is documented, related to negotiations with Kribhco." The allegations have been denied by Kribhco which had said that its officials were not involved in any wrongdoing with Yara.