Natwar, a case of false bravado?

New Delhi: Tough times are ahead for former external affairs minister Natwar Singh. But the Pathak report's admission that there is no money trail has come as a shot in the arm for both Natwar and Jagat who are now looking to take on the Enforcement Directorate (ED).

The wheel has turned a full circle. Found guilty of misusing his position by the Pathak inquiry authority probing the Volcker scam and completely isolated within the Congress party, Singh has not yet given up hope of seeing the tide swing in his favour.

“I am totally vindicated, totally relaxed and my nerves are strong. See me in nine months,” Singh said.

But if that’s the case then why is his son Jagat accusing Finance Minister P Chidambaram of targetting him?

On his part the Finance Minister has already denied this charge but the ED is making a long list of charges against the father-son duo.

EVIDENCE WITH ED

Serious Fraud Office in London: "The ED has documents from the Serious Fraud Office of London confirming Jagat Singh's involvement in the oil-for-food scam"

Indrus Trading Company: a joint venture between Andaleeb Sehgal and Aditya Khanna and is believed to have received funds from certain oil-for-food transactions.

Barclays Bank, UK: The money earned from this was transferred to Barclays Bank in Jersey Island, UK. The ED has documents relating to this transaction as well

Coburg Associates: Some money had been received by Coburg Associates - believed to be owned by Natwar's son Jagat and handled by a London based lawyer - Peter Cooper.

"You can give a report but don't you have to back it up with evidence. You say you have impounded my Mercedes but at some point don't you have to prove it's mine," Jagat Singh said.

The spirited defence put forward by Natwar and Jagat could well turn out to be false bravado.

Sources in ED have told CNN-IBN that they do have evidence, which could be made public in the days ahead to establish the fact that Jagat is at the centre of the Volcker controversy.

And as and when that happens it could well mark the beginning of another round of embarrassment not just for Jagat and Natwar but also for the Congress party.

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