New Delhi: Commonwealth Games Organising Committee chairman Suresh Kalmadi on Wednesday said his organisation was ready to face any scrutiny by CAG or even a judicial probe of all financial transactions. “All those found guilty will be brought to book,” Kalmadi said in a press statement.

The statement issued by Kalmadi’s office claimed all 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’s finance committee which has two representatives of the Government of India. After that it is referred to the finance sub-committee, comprising three senior representatives of the Government of India. Thereafter, the proposals are submitted to the executive board for its final approval.  As chairman, I have no financial powers,” Kalmadi said.

On Tuesday, Kalmadi had constituted a three-member committee under chief executive officer Jarnail Singh, special director general G C Chaturvedi and chief vigilance officer Gurjyot Kaur. The team is expected to submit its report before an executive board meeting on Thursday. The committee is investigating irregularities in prices of overlays, the Queen’s Baton Relay launch in London and OC’s marketing firm SMAM’s role. There have been a series of complaints against irregularities in renting and purchase of overlays for the 45-day period of the Games. The fitness equipment, furniture and others have been allegedly rented at exorbitant rates.

The Committee is also finding it difficult to wriggle out of its contract with SMAM, which has no escape clause. It cannot back out from giving SMAM commission, which as per the contract is between 15 and 22.5 per cent. In fact, the Committee is unhappy that the firm’s contribution in bringing sponsorship has been negligible.