Wednesday, November 16 2005 14:52 Hrs (IST) - World Time -

New Delhi: For the first time since the Volcker committee findings on Iraq oil pay-offs was made public, Finance Minister P Chidambaram today (Nov 16, 2005) said the Government has asked a few Indian companies that figured in the report to 'share' records and information.

"We have asked a few companies to share with us some records and information's. Beyond that, I don't want to say anything," he told the annual economic editors conference here.

"It is premature to disclose anything about the investigation," he said, when asked whether the tax department was looking into the books of 125 Indian companies named by Volcker for evasion.

The minister rubbished reports, which claimed that the Government and the Congress party had threatened to sue United Nations for naming former External Affairs Minister Natwar Singh and the party in the Volcker findings.

"On November 3, two statements were issued one by Prime Minister's Office and another by the Congress Party. Please read them carefully. Nowhere, the words 'sue' has been used," he said.

"All that the Congress party's statement said was that it would issue a comprehensive legal notice seeking full disclosure of the deals", he said.

Subsequently, a comprehensive legal notice signed by a lawyer was sent in this regard.

The Government has constituted a judicial probe by former Chief Justice R S Pathak to go into the Volcker panel's findings regarding Natwar Singh and the party.

The 623-page UN inquiry report by former US Federal Reserve chairman Paul Volcker is understood to have named 125 Indian companies, which included STC, Kirloskar Engines, Ajanta Pharma, Mohan Exports, L T Overseas Ltd, Jord Engineers, National Electrical Industry, Jain Irrigation Systems, Lucky Exports and Airpac Exports.

These are among the 2,400 firms from all over the world, which are alleged to have made illegal payments totaling 1.8 billion US dollars to the then Saddam Government.

Daimler Chrysler, Volvo, Siemens also figure in the list.