Hindujas file affidavit in Delhi High Court

Hindujas file affidavit in Delhi High Court
PRESS TRUST OF INDIA

NEW DELHI, MARCH 14: The three Hindujas today filed an affidavit in the Delhi High Court along with a chartered accountant's certificate stating that it had noticed neither any link between the Bofors Gun deal and payments made to the three brothers nor any payment made from this money to any Indian politician or public servant.

In compliance of the March 9 directive of the High Court, group Chairman S P Hinduja, G P Hinduja and P P Hinduja filed separate affidavits along with the certificate from the Chartered Accountant (CA) Atag Ernst & Young.

The CA had "carried out an independent verification of the bank account of McIntyre Corp, Panama, as well as the bank accounts of the three brothers and/ or companies owned by them to verify the nature of payments", the documents attached to P P Hinduja's affidavit said.

The CA examined McIntyre's three Geneva-based accounts of Mont Blanc in Credit Suisse, Lotus in Swiss Banking Corporation and Tulip in Manufacturers Hanover Trust in which over 11.8 million dollars were deposited.

"We have not noted any elements which lead us to believe that the amounts received in the accounts of McIntyre Corp were in relation to the armament sale contract," the CA said.

"We have not noted any elements which lead us to believe that the amounts received in the said accounts were transferred to Indian Public officials or politicians," it added.

The Chartered Accountant further said that "the funds received in the accounts of McIntyre Corp were concerning global countertrade."

"According to the documents received, the ultimate beneficial owner of McIntyre Corp and of all funds received on the accounts of McIntyre Corp is P P Hinduja.

The funds were invested by the Hinduja Group for its Group companies or transferred to other accounts of the Hinduja Group," it said.

The Hindujas, who have appealed against the trial court's order refusing them permission to go out of the country during the pendency of the trial, were also directed by Justice S K Aggarwal to file details of their investment and assets in India.

The brothers, who claimed to have invested Rs. 10,000 crore in various business in the country, said they did not own any movable or immovable assets in their individual name.

However, they said the Hinduja Group has majority holding and management control of Ashok Leyland, Ennore Foundaries ltd, Ashok Leyland Finance, Gulf Oil India Ltd and IDL Industries Ltd.

Apart from this they have invested in 1040 MW Vizag PowerProject, Tamil Nadu Liquid Fuel Power Project, Maharashtra Liquid Fuel Power Project, Orissa Refinery, for all of which the Government has issued letter of intent.

They also listed, without giving quantum, Hinduja group's contribution through Hinduja Foundations to Philanthropic and charitable institutions and causes in India.