Probe into Volcker report expected to gather pace

The papers have been handed over to the Enforcement Directorate which is conducting investigation.

An inquiry into Volcker allegations is expected to pick momentum with government's special Envoy Virendra Dayal obtaining most of the documents related to the Indian entities, including former External Affairs Minister K Natwar Singh, named in the UN report as non-contractual beneficiaries of the oil-for-food programme in Iraq.

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Dayal is on the verge of completing his task, five months after being assigned to collect documents related to Volcker allegations about the Iraq payoffs.

"My work is almost complete. A little bit remains which I hope to complete soon," Dayal told a news agency in New Delhi.

Refusing to discuss details, he said the documents had been obtained from the United Nations, Iraq and Jordan and these related to the Masefield company.

Masefield, named in the Volcker report of having lifted the oil earmarked for Indian entities, is linked to Hamadaan Exports of Andaleeb Sehgal who is accused of passing on the kickbacks to Natwar Singh and Congress Party. Both have denied the charge.

The papers have been handed over to the Enforcement Directorate which is conducting investigation into the allegations against Natwar Singh.