Sehgal denies that Jagat was his business partner | india | Hindustan Times
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Sehgal denies that Jagat was his business partner

He, however, admitted to having received oil coupons for a million barrels from the Iraqi Govt.

india Updated: May 23, 2006 17:44 IST

Hamadan Exports Director Andaleeb Sehgal on Tuesday denied before the Pathak panel that he had any business links with Jagat Singh, son of former External Affairs Minister Natwar Singh, and termed their relationship as personal in nature, Authority sources said.

Submitting that he had not accompanied the Indian delegation to Iraq in January 2001, Sehgal is understood to have told the Authority in an in-camera hearing that he was one of the over 500 Indian businessman prospecting in Iraq at the time and had incidentally met Jagat at a party thrown by the Indian Ambassador at the embassy in Iraq.

He, however, admitted to having received oil coupons for a million barrels from the Iraqi government but added that he had sold it to a foreign enterprise for a profit margin of Rs 80 lakh, Authority sources said. He claimed he had not moved oil for Natwar or the Congress Party.

Contrary to reports citing ED sources, Sehgal is understood to have told the body that he had received only Rs 18 lakh as his share in the business deal and had to pay a half of the profit margin to the Iraqi government.

Asked whether Natwar had recommended his name to the Iraqi government, Sehgal submitted that the coupons he received was part of the UN scheme and through its sole recommendation, sources said.