Kerala government decided to import palm oil from a Malaysian company in Singapore
named "Power and Energy Ltd" above the international price which was
approved by the Kerala Cabinet. The Kerala State Government selected Power and Energy Limited
arbitrarily without inviting tenders and supposedly at an inflated price
and at an excessive service charge and in violation of Central and
State government norms existing in India.The price of import was fixed to $405.0
per ton which was higher than the international price of $392.25 per
ton. The import order was signed by Thomas, who was then Kerala's Food
Secretary. The investigation agency's charge sheet in the case says that
this order caused a loss of more than 2.32 cores to the exchequer. The decision was to import 15,000 tonnes of palm oil.
Those accused in the Palm Olein Case
- K. Karunakaran
- Former Food and Civil Supplies Minister T.H. Musthafa (a close associate of Karunakaran)
- Former Chief Secretary S. Padmakumar (who, along with Karunakaran, allegedly met the Singapore-based company representative in New Delhi and agreed informally on the deal as early as October 1991)
- Former Additional Chief Secretary Zacharia Mathew
- Former Managing Director of the Kerala State Civil Supplies Corporation Jiji Thomson
- Director of Mala Export Corporation V. Sadasivan
- Director of P&E Pvt. Ltd Sivaramakrishnan
- P.J. Thomas.
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