Under-pressure Kalmadi says ready for CAG or judicial probe

Cornered by allegations of corruption in the Commonwealth Games' preparations and isolated within his own party, under-fire Organising Committee chairman Suresh Kalmadi on Wednesday said he is ready to face any CAG or judicial probe into the financial transactions related to the event. "I,as Chairman of the Organising Committee, am prepared to face any scrutiny by (Comptroller and Auditor General) CAG or even a judicial probe for all financial transactions being reported by the media. All the people found guilty will be punished and brought to book," Kalmadi said in a statement.

Kalmadi's statement came a day after more allegations of irregularities and the Indian High Commission's e-mails being 'doctored' came to light. The Congress party also distanced itself from Pune MP.

Kalmadi reiterated that the all transactions were carried out by the full approval of the OC's various finance committee and he did not have any individual say on these matters.

"The financial procedures at the Organising Committee are well laid down and transparent. Any proposal that is prepared by the Functional Area Head first gets vetted by the OC Finance Committee which has two representatives of Government of India, and after that it is referred to Finance Sub-Committee, comprising of three Senior representatives of Government of India," he explained.

"Thereafter, the proposals are submitted to the Executive Board for its final approval. Chairman OC, in his individual capacity, does not have any financial powers," he added.

Kalmadi said, nonetheless, he has taken note of the various reported bunglings.