CBI decodes Swiss bank papers, but the investigation is only just beginning

The Central Bureau of Investigation's 12-member special investigation team set up last week to go into all aspects of the Bofors case has virtually completed its immediate task of decoding the 500-odd pages of bank statements linked to those who allegedly received payoffs in the $ 1.3 billion howtizer deal.

Though the CBI would not confirm completion of the study of the bank documents, sources in the agency said the SIT's main job was to identify the names of the recipients of the alleged bribes, estimated at Rs 640 million, and the destinations where the funds were subsequently siphoned off before the accounts were frozen.

''This cannot continue for days on end,'' the CBI sources said and added that ''in fact names should have been identified in a matter of a few minutes by the French and German language specialists requisitioned by the Bureau from the Cabinet secretariat.''

Most of what was contained in the bank documents were figures which any one could make out and did not require ''decoding or deciphering,'' the sources revealed.

Having accomplished this relatively easy task without much ado, the sources said the SIT now found itself in an unenviable position.

It had to find ways and means to first approach the middlemen reportedly involved in the deal for interrogation, before making them stand trial.

Some newspapers reported on Tuesday morning that the SIT will question former army chief General Krishnaswamy Sundarji and former army deputy chief Lt General Hriday N Kaul to cast light on the gun deal. However, the CBI sources said this was not the SIT's main concern. ''Though this development cannot be ruled out," they said, "it is unlikely to provide any further breakthrough leading to lifting the veil of secrecy over the ultimate beneficiaries in the deal.''

It took the CBI over seven years to get the bank documents, after overcoming legal hurdles in India and Switzerland. The SIT is likely to find it difficult to extradite the recipients, most of whom reportedly live abroad, for questioning or to face trial.

The government has been trying for several years to extradite Bofors's agent in India Win Chadha, who lives in the United Arab Emirates. Without success.

''It is therefore too early to comment on reports which said the Bureau has decided to approach the Supreme Court in connection with the extradition of some suspected recipients of the payoffs,'' the sources explained.