Bhubaneswar: A special court in Delhi today convicted a former CMD of Nalco, his wife and two others under the provisions of the Prevention of Money Laundering Act (PMLA)-2002.

The Special Judge (PC Act), Rouse Avenue Court, in New Delhi convicted former Nalco Chairman-cum-Managing Director (CMD) Abhay Kumar Srivastava, his wife Chandni Srivastava, aide Bhushan Lal Bajaj and Lal’s wife Anita Bajaj in the money laundering case, said the Enforcement Directorate (ED).

The CBI had registered an FIR against Srivastava and others in 2011 under various Sections of IPC and Prevention of Corruption Act-1988 for accepting illegal gratification from GS Bhatia and Bhatia Group of Companies in return for extending undue official favours.

Bajaj had acted an intermediary for acceptance of the bribe. Srivastava’s wife had opened a bank account and locker for using forged identity documents and signatures.

The CBI had seized movable assets, including gold bars and cash, from the said locker, said the ED.

During investigation, the ED had attached movable assets to the tune of Rs 2.23 crore of Srivastava. The agency had filed a prosecution complaint against the four accused in the Special PMLA Court in Delhi in 2015.

According to the ED, Srivastava had accepted illicit payments through Bajaj in connection with a coal supply tender floated by Nalco, an Odisha-based PSU.

The illicit funds were concealed through the purchase of gold bars, which were stored in the bank locker.

The court accepted the statutory presumption that the proceeds of the crime were involved in money laundering, said the ED.