Cooperative world in India is stunned by the news that one million USD was paid while a joint venture was finalized between Kribhco and Norway’s fertilizer giant Yara International in the year 2007. Talking to Indian cooperative.com Kribhco Chairman Bagchi Bhai Patel said that he is collecting the facts and trying to pinpoint the culprit.
Incidently, Bagchi Bhai was on the Kribhco board also in 2007. Effort to contact Vice Chairman Chandra Pal Singh Yadav has not materialized so far. Kribhco’s Managing Director B D Sinha fights shy of press with even his PA Mr Kukreja refusing to take calls.
But Yara’s disclosure shows how the affairs of cooperatives are being run by its leaders. It is not for nothing that Cooperatives have become synonym with mafia Dom and sleaze.
Readers may be aware of the fact that Yara International, a fertilizer Company of Norway tried to enter into a joint venture with India’s Kribhco in the year 2007 for the production and sale of fertilizers. The proposal was later dropped on account of lack of commercial viability. But not before some “consultant” of Indian origin got away with One million USD.
Yara has forwarded the case to European crime branch which is investigating the matter and hope to zero in on the culprit. But it is logical to think that Kribhco higher ups are in know of things. Luckily the present team of officials have not changed since 2007. It is advisable for them to come out with the name of culprit so that the cloud clears and Kribhco is able to restore its lost prestige.
Indiancooperative.com has requested Yara International also to reveal the name.The response is awaited.
