Guilty Verdict in NALCO Bribery Scandal: Justice Served After 13 Years

A Delhi special court has delivered a verdict on a longstanding bribery case, finding former National Aluminium Company Limited (NALCO) Chairman-cum-Managing Director Abhay Kumar Srivastava and three accomplices guilty of money laundering.

According to Judge Shailender Malik, the evidence was sufficient to convict Srivastava, his wife Chandni Srivastava, and their associates Bhushan Lal Bajaj and Anita Bajaj under the Prevention of Money Laundering Act. The case stemmed from a Central Bureau of Investigation FIR filed in February 2011, relating to alleged bribes for a coal-supply tender from 2010.

The court noted significant coordination among the accused, who orchestrated the bribery and money laundering activities. The Enforcement Directorate reported the confiscation of assets worth Rs 2.23 crore, which were linked to the illegal activities. Sentencing is expected soon, with potential penalties of up to seven years in jail.

(With inputs from agencies.)