"Shri M. Sambasiva Rao, CEO of M/s Sai Krishna Impex, Hyderabad, during interrogation has revealed that he was asked by Sanjeeva Rao to meet Shri C.K. Ramakrishnan, MD of NFL, during 1995 for getting a contract signed between M/s Karsan Ltd and NFL for supply of two lakh MT of urea to NFL by M/s Karsan Ltd, Turkey, atthe rate of US $190 per metric tonne."
"He also disclosed that he had met C.K. Ramakrishnan and D.S. Kanwar, managing director and executive director (marketing) respectively of NFL on 31.10.95 and 1.11.95 respectively and got their approval for (the) contract to be entered into between NFL and Karsan Ltd against 100 per cent pre-payment of the entire contract amount i.e. US $38 million (Rs 133 crore). He also disclosed that the payment was made in November '95 to M/s Karsan Ltd in advance in their a/c in Pictet Bank, Geneva." "He further disclosed that the payoff/kickback of US $4 million was credited in the account of M/s Edible Food Stuffs in Standard Chartered Bank, Dubai."
"Later on, the said amount was paid to Sanjeeva Rao and Prabhakar Rao through hawala transactions managed by Shri Rajendra Bhavnani and Dharmesh Yadav of Hyderabad. The said money was utilised in purchase of land at Nampalli, Hyderabad, for Prabhakar Rao and Sanjeeva Rao." "Out of the said amount, accused Sambasiva Rao received about Rs 37 lakh for services rendered. According to Sambasiva Rao, he utilised this amount in purchase of land in his own name at his native place in distt Guntur (AP) and a Contessa AC car."