• search

CBI continues inquiries in Rs 60 cr cotton scandal

Written by: Staff

Guntur, Apr 8 (UNI) CBI officers continued their inquiry into the Rs 60 crore Cotton Corporation of India (CCI) purchase scandal.

They visited several banks and checked the accounts of CCI officers, buyers and cotton merchants.

It is alleged that some CCI officers purchased 3.6 lakh quintals of substandard cotton from merchants, masquerading as cotton growers. CCI could not find buyers for the poor quality cotton, resulting in loss of Rs 60 crore.

Four months ago, CBI searched the palatial mansion of a top officer of CCI here in his absence and seized some incriminating documents.

As cotton prices crashed last year, the CCI entered the market and purchased cotton from distressed growers. However, dishonest CCI officers, in collaboration with cotton merchants, subverted the programme.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more