For, all the key players, including Hamdaan Exports owner Andaleeb Sehgal, NRI businessman Aditya Khanna and ex-Ambassador Aneil Mathrani had given statements on oath to the Enforcement Directorate (ED) directly implicating them in the scam. Both father and son have consistently denied the allegations.

The statements of the accused, along with corroborative evidence received by the ED from the Serious Fraud Office in London, are contained in the 102-page complaint attached with the show-cause notices issued to nine persons and companies on September 2.

Documents, available with The Indian Express, reveal that the Andaleeb Sehgal, the trader named in the Volcker report, was the one who gave statements on oath in which he claimed how Jagat Singh gave him instructions to transfer $103,500 as his share of the oil commissions into two off-shore companies, Coburg and Fynmores.

This is what Andaleeb claimed happened after the oil deals were signed and Swiss firm Masefield was introduced to them by Aditya Khanna. “Jagat Singh told me that whatever the final remuneration could be shared between us. I also asked Jagat as to where he would like to receive his share of the commissions. He asked me to be in touch with a gentleman called Peter Cooper at a law firm called Kennedy’s in London.’’

Andaleeb continues: “I contacted Peter Cooper, who gave me the particulars of a company called Coburg. I forwarded these details to George Curmi (who was working with Aditya Khanna and was the liaison man for Masefield), who then transferred $89,000 to the accounts of Coburg.

“Upon receipt of the funds into the Coburg accounts, I requested Peter Cooper to transfer $44,000 into the accounts of Hamdaan Exports in New Delhi. I also informed Jagat that $45,000 was lying with Coburg. He then on three different dates gave me the details of three different accounts and asked me to be in touch with Peter Cooper and forward the amounts to those. The countries to which the money was sent from Coburg were Korea, Cyprus and Israel. The amounts of the transfer are $25,000, $15,000 and $5,000.’’

The ED’s complaint, signed by Special Director S K Panda, says that documents received by them from London “broadly confirm Andaleeb’s statement regarding the movement of money effected at the instructions of Jagat Singh.’’

The ED also notes that the money transfers from Coburg’s account with Lloyds TSB, given to them by London’s Serious Fraud Office, also match in terms of debit entries.

For the disbursements of commissions for the second oil contract, Andaleeb has stated on oath that he again asked Jagat Singh where his “share’’ could be deposited.

The statement reads, “Upon receipt of $50,000 against the second contract as commission from Masefield,..I asked George Curmi to transfer my share of $17,500 to the Hamdaan account in India. I asked Jagat as to where I could send his share of $14,500. (Incidentally, prior to the receipt of the commission, I had informed Jagat that in this deal a 50/50 split would not be possible) since I had to take care of some commitments and I told him that $30,000 were available in a second contract which I would share with him on 50/50 basis.’’

Andaleeb then gave the details of the other mysterious firm, Fynmores, into which he said Jagat Singh asked money to be routed into.

“He gave me details of John Ball with his account number. I asked George Curmi to transfer the funds $14,500 or $15,000 (I do not remember correctly). These funds were transferred sometime in December 2001.’’

The distribution of commissions for the deals, including those to Coburg and Fynmores, have also been confirmed by a statement on oath given to the Directorate by Aditya Khanna.

The ED’s conclusion on the role of Jagat Singh: “Jagat Singh, along with his associates, jointly and severally, without the permission of the Reserve Bank of India made payments and transferred foreign exchange of $89,000 to the account (No 11281208-0101 of M/S Coburg Associates and further $14,500 to M/S Fynmores, that is, to persons outside India in contravention of the provisions of FEMA.

Following the dispatch of the show-cause notice and complaint, the ED is now sending some 3,000 pages

of evidence to each of the noticees in the case. These include statements, bank-transfer details and other

evidence handed over to the the ED by the Iraqi Government, the United Nations, the Serious Fraud Office and the Ministry of External Affairs.

—(Tomorrow: ED on how Natwar Singh fathered the deal)