Volcker report: NDA motion rejected

Action will be taken against guilty, avers Chidambaram

The United Progressive Alliance (UPA) government today heaved a sigh of relief with the Rajya Sabha rejecting the Opposition-sponsored adjournment motion on the controversial Volcker report on Iraqi oil pay-offs. The Lok Sabha had rejected the same yesterday.

Responding to the debate in the Rajya Sabha today, Finance Minister P Chidambaram reiterated the government's stance that action would be taken against any person or entity if Indian laws were found to have been violated.

He rejected the demand for lodging an FIR on the basis of the Volcker report, saying that it was just a conclusion and neither K Natwar Singh, nor, the Congress was given the opportunity to present their side.

Responding to the debate in the Lok Sabha yesterday, Chidambaram had said that there was "no need, no occasion and no justification" for the motion as the Volcker committee findings on the former External Affairs Minister and the Congress party as beneficiaries were "unverified and unsubstantiated" as things stand today.

Taking a dig at the Opposition today, he said, "Unfortunately, after convincing the first generation of BJP leaders, I now have the responsibility of convincing the second generation leaders."

Earlier in the day, the BJP accused the government of trying to discredit the Volcker committee report to avoid an "honest investigation" into the allegations and demanded filing of FIR to ascertain the truth.

"Going by the attitude of the government during the debate on Volcker in Lok Sabha yesterday and the Rajya Sabha today, we are convinced that its intention is not to go into the truth of the matter," BJP general secretary Arun Jaitley told reporters here.

He alleged that the government spokesmen appeared to be in the mode of finding loopholes in the report and "rubbish" it instead of taking cognisance of the allegations and hold inquiry.

As no attempt has been made to investigate the money trail, the Justice R S Pathak Inquiry Authority was nothing but a "crude attempt to cover up" the issue, senior BJP leader Arun Jaitley said, initiating a debate on the Volcker report in the Rajya Sabha. He warned that without filing an FIR, the Swiss court would not entertain any probe in the matter, as in the case of Bofors.

To crack the Swiss banking secrecy, charges should have been framed on various counts, without which, the Indian Government would not be able to crack the veil of secrecy of the Swiss authorities to hand over necessary documents on pay-offs, Jaitley said.