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Home  » News » FM seeks information from cos named in Volcker report

FM seeks information from cos named in Volcker report

Source: PTI
November 16, 2005 14:13 IST
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The government has asked a few Indian companies, which figured in the Volcker report on Iraq oil-payoffs, to "share" records and information, Finance Minister P Chidambaram said Wednesday.

"We have asked a few companies to share with us some records and information. Beyond that, I don't want to say anything," he told the annual economic editors conference in New Delhi.

"It is premature to disclose anything about the investigation," he said, when asked whether the tax department was looking into the books of 125 Indian companies named by Volcker for evasion.

The minister rubbished reports, which claimed that the government and the Congress party had threatened to sue the United Nations for naming former external affairs minister Natwar Singh and the party in the Volcker findings.

"On November 3, two statements were issued -- one by Prime Minister's Office and another by the Congress party. Please read them carefully. Nowhere, the words 'sue' has been used," he said.

All that the Congress party's statement said was that it would issue a comprehensive legal notice seeking full disclosure of the deals, he said. Subsequently, a comprehensive legal notice signed by a lawyer was sent in this regard.

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