The Hindu : National : Channel claims evidence linking pay-offs

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Friday, Apr 14, 2006

National

National

Channel claims evidence linking pay-offs

NEW DELHI: A TV channel on Thursday claimed to have got evidence linking payoffs in the Iraqi oil-for-food scam to Andleeb Sehgal and a London-based NRI Aditya Khanna, said to be connected to the former External Affairs Minister, Natwar Singh, and his son, Jagat Singh.

NDTV said it had evidence that Mr. Khanna, a relative of Mr. Natwar Singh, had given in writing to the Enforcement Directorate that Mr. Sehgal of Hamdaan Exports had told him that he was allocated two million of barrels of Iraqi oil in 2001 and a possible ``roll over'' of one million barrels.

Sehgal refuses to comment

When contacted, Mr. Sehgal refused to make any comments saying the matter was "sub judice" before the Pathak Inquiry Authority. ``I have submitted my reply to the Pathak Inquiry Authority," he said.

Mr. Khanna had introduced Mr. Sehgal to a foreign trader, who had brought in Masefield AG of Switzerland, the channel said.

Masefield, which was named in the Volcker report of having lifted the oil earmarked for Indian entities, decided to do business with INDRUS, a company floated by Mr. Khanna and Mr. Sehgal, NDTV said.

Masefield and Mr. Sehgal agreed that for the oil to be carried to Far East he would get 30 cents per barrel of which 25 cents would go to the former Iraqi dictator, Saddam's Hussein's kickback account and the rest for him.

Masefield is said to have made payments of $1,50,000 to INDRUS company, out of which $70,000 was paid to Mr. Sehgal's company. It paid another $18,000 more to Khanna and $45,000 to a company called COBURG.

The TV channel quoted unnamed sources to say that the money to Mr. Sehgal was routed through his company in Cyprus. — PTI

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