New Delhi: In a high-profile case of corruption against a senior Govt executive, an Ed Special Court on Monday convicted Abhay Srivastava, a former chairman and public sector managing director blamed Nalco, his wife Chandni and two colleagues under the opponent of law under the law under the laws under the laws under Contested Bribes under the Contested Bribs under the Contested Bribes.The CBI convicted this 14 years after booking the former CMD of the National Aluminum Company Limited (Nalco) under the prevention of the Corruption Act. Later, Ed investigated a money laundering case against the illegal satisfaction received by him and allegedly seized 10 gold bar of each kg from a bank locker operated by the moonlight.The court upheld the ED investigation and noted that illegal funds were layered and hidden through the purchase of gold bars which were stored in a Bank of Maharashtra Delhi branch.“It was found in this court that there was a former concert and coordination between the four accused – Srivastava and (his close aide) BL Bajaj both included each to hide each kilo of gold bars to keep each in a bank locker named after Anita Bajaj. In the commission of money laundering,” Special Judicial Shaileendar Malik mentioned in his decision.“Ed said it has been successfully displayed that illegal satisfaction arose when Srivastava accepted illegal payments through Bajaj in connection with the coal supply tender floating by Nalco,” the judge said.The case is related to the ongoing Nalco tender for the purchase of two lakh tonnes of coal from its captive power plant in Angul in Odisha in 2010. Four companies applied, two of which were rejected at the technical bid phase. Maheshwari Brothers Cole Limited and Bhatia International Limited were to be presided over by CMD BL Bagra to be presided over by Srivastava, to put before the committee of directors.The court took cognizance of the intercepted phone calls by the CBI, where it was said that Rs 1.2 crore (at the rate of Rs 150/tonne for 80,000 tonnes) was fixed as an award for contracting Srivastava as an illegal satisfaction from Bhatia International Limited for Srivastava.
