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       Gypsum scam: CBI begins questioning Jaiveer Srivastava
         Posted on :14:07:33 May 18, 2017
       Last edited on:17:14:12 May 18, 2017
         Tags: Jaiveer Srivastava, CBI, Gypsum Scam

KOCHI: The CBI on Thursday has begun questioning former chairman and managing director (CMD) of Fertilizers and Chemicals Travancore Limited (FACT) Jaiveer Srivastava, in connection with corruption in sale of gypsum. The questioning is at CBI’s office in Thiruvananthapuram.

He was ousted as CMD in November 2016 by the Centre following him getting accused in the scam, and CMD of Chennai Fertilisers A B Khera was appointed as the CMD of FACT.

There were also allegations that Srivanstava holds binami assets in many parts of the country. Though the CBI had investigated into this, they were unable to find any evidence substantiating this allegation. All they could find out about was a luxury flat in Mumbai worth crores of rupees.

The CBI had earlier found that the government had incurred loss to the tune of one and half crore rupee through the sale of gypsum, which is a by-product from producing fertiliser in FACT, to a private company at a much lower rate. Jaiveer Srivastava was the first accused in the case.

A contract was made to sell gypsum at a rate of Rs. 130 per kg to a private company in Hyderabad called N S S Trading, whereas the same gypsum was earlier sold at a rate of Rs. 300 to Rs. 600 per kg. The sale was also restricted to just this one company. The company in turn sold the gypsum to other cement manufacturers at a much higher rate.

The other accused in the case are CGMs Sreenath V Kamath and I S Ambika, Dy GMs Panchamal Podar and Daniel Madhukar. The Central Vigilance have received complaints regarding 17 such dealings in different parts of the country. Many of these dealings were found to be related to FACT.

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