SC dismisses key accused Prakash Yadav's plea against charge

SC dismisses key accused Prakash Yadav's plea against charge
PRESS TRUST OF INDIA

New Delhi, July 18: The Supreme Court today dismissed a petition by Prakash Chandra Yadav, a key accused in the Rs 133 crore urea import scam, challenging framing of charges against him by a designated court here.

Dismissing Yadav's petition, a division bench comprising Justice K T Thomas and Justice R P Sethi said if the accused thought that the charges against him were baseless, he should get an acquittal from the trial court.

The Delhi High Court had on May 26 dismissed petitions of Prakash Yadav and other accused who had challenged the framing of charges against them.

The CBI had accused Prakash Yadav, son of former Union Chemicals and Fertiliser Minister Ram Lakhan Singh Yadav, of being instrumental in the signing of the urea import deal between National Fertiliser Corporation (NFL) and Turkish company Karsan Limited without a bank guarantee.

Counsel for Yadav, senior advocate P C Jain, contended that there was not a whisper of allegation against his client either that he participated in the conspiracy or he got any money from the deal.

Justice Thomas observed, "this is not the right stage to go into the merit of the case. The charges were framed on prima facie appreciation of the evidence."

When Jain started arguing the case on merits and attempted to point out the error committed by framing of charges against the accused, Justice Thomas said, "it is too early to take a decision in that regard."

The trial court had framed charges on November 7, 1998, against Karsan executives Tunkay Alankus and Cihan Karanci, Prakash Yadav, Karsan's India agent M Sambasive Rao and his employee Malleshan Gaud, former Prime Minister Narasimha Rao's relative Sanjeeva Rao, former NFL managing director C K Ramakrishnan and its former executive director D S Kanwar.

NFL had signed a revised contract with Karsan in October 1995 for the supply of two lakh tonnes of urea and had advanced $ 38 million (Rs 133 crore) to the Turkish firm, which failed to supply any fertiliser, CBI had alleged.

Of this advance, $ 1.1 million was transferred to Karanci's personal account and $ 4.1 million to Dubai-based firm Edible Foodstuff owned by Rajinder Babbani, the CBI had said and alleged the latter had acted as the main conduit to transfer the money to persons in India.

The investigating agency in its chargesheet had said that two million dollars were transferred to Malyn Holdings in the USA, while $3.42 lakh was sent to a Greek-based company, two lakh dollars to Sambasiva Rao and Rs 3.42 lakh was paid to an insurance company in London.