India: The Central Bureau of Investigation (CBI) has started investigating officials at Fertilizers and Chemicals Travancore Limited (FACT) for corruption related to the sale of gypsum. The CBI is exploring whether a cartel was formed between FACT and Nagarjuna Chemicals to sell fertiliser-derived gypsum to NSS Trade India Private Limited at a significantly lower rate than the market value, according to the Times of India. In addition a clause in an agreement between the companies suggest that they may have intended to keep the price of gypsum artificially high to the end clients.
Indian anti-corruption body looks into gypsum deal
Written by Global Gypsum staff
