The story of kickback in Yara-Kribhco deal to the tune of 1mn USD is refuted vehemently by the Kribhco Vice-Chairman Chandra Pal Singh Yadav. Talking to Indiancooperative.com Mr Yadav said that the deal had hardly taken any shape.
Yara International offered us a proposal to go in for joint venture for production of mineral fertilizer in India. Since there is shortage of prophetic fertilizer in the country, we entertained the idea in the beginning, said Mr Yadav.
We agreed only in principle not in papers. There was no financial commitment, neither was there any high level meeting with Yara, Vice-Chairman asserted.
Later they (Yara International) may have hit some roadblocks and the matter did not take off from there.
We had about 67 percent share of government at that time and thus a question of a middle man brokering the deal does not arise. We had not even a dime’s deal with them , said the leader.
Readers may be aware that European Union Police is investigating the matter of kickback in the deal. One of the internal whistle blowers in Yara brought the secret pay off in public leading to investigation. Yara officials say that it informed the police which searched its office to get at the bottom of truth.
The investigation in Norway is still going on.
Indian government has not taken note of the matter yet and no investigation has been initiated here. Mr Chandra Pal Singh says since there is no scam , there is no need for investigation.
