• An account in Barclays Bank in the name of INDRUS Trading, owned by Aditya Khanna, was used to route the 5 cent per barrel commission from Masefield.

• Two Indian bank accounts were used by Sehgal to bring the money home— ‘Sehgal Consultants’ in Standard Chartered Bank, New Delhi, and Hamdaan Exports in State Bank of India, New Delhi.

• Coburg Associate SA, a mysterious entity whose role is unclear, received money from Indrus and transferred money to Hamdaan’s Indian accounts, through its Lloyds TSB, London.

Consider Contract 1 (M/09/54) under Pathak’s scanner. In this, Masefield paid $498,973 to Hamdaan’s Cyprus account that was wired to the Iraqi government’s account in Amman, as surcharge for 2 million barrels.

Masefield transferred $96,785 as the 5-cent commission per barrel to INDRUS Trading’s account.

Of this, $7,000 was transferred to Sehgal Consultants’ New Delhi account and $89,000 transferred to Coburg Associate SA.

Subsequently, Coburg transferred $40,000 in June 2001 and another sum of $3,793 in August 2001 to Hamdaan Exports’ SBI account in Delhi.

Whether the balance of over $45,000 remained in Coburg’s account or was transferred to some other entity later is not mentioned in the report.

In the second contract (M/10/57), Masefield transferred over $240,000 to Hamdaan Exports account in Cyprus to lift 1 million oil barrels.

Hamdaan wired $190,450 to the Iraqi government account. Of the balance, Hamdaan transferred $49,500 to Indrus account. Indrus paid a sum of $14,500 to a consultant, John Ball and transferred $17,500 to Hamdaan Exports’ Indian accounts.

... contd.