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Hindujas file affidavit in
Delhi High Court

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 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 three Geneva-based accounts belonging to McIntyre Corp - Mont Blanc in Credit Suisse, Lotus in Swiss Banking Corporation and Tulip in Manufacturers Hanover Trust - in which over $11.8 million 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 course 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 100 billion in various businesses in the country, said they did not own any movable or immovable assets in their individual capacity.

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

Apart from this, they have invested in the 1040 MW Vizag power project, Tamil Nadu Liquid Fuel power project, Maharashtra Liquid Fuel power project, Orissa Refinery, for all of which the government has issued Letters of Intent.

They also listed, without specifying details, Hinduja group's contribution, through the Hinduja foundations, to philanthropic and charitable institutions and causes in India.

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