The Lok Sabha on Monday night negatived an Opposition-sponsored adjournment motion on the Volcker issue on the Iraqi oil pay-offs.

The House rejected the motion, moved by Leader of the Opposition L K Advani [Images], by a voice vote, after Finance Minister P Chidambaram said there was 'no need, occasion or justification' for the motion as the government was determined to go into the root and punish anyone found guilty.

The motion was rejected by voice vote after the Samajwadi Party, an outside supporter of the ruling United Progressive Alliance, and opposition Telugu Desam Party staged a walkout, expressing dissatisfaction over the government's response to the motion.

Maintaining that the Justice R S Pathak Inquiry Authority was a 'full-fledged' Commission, without any restrictions, Chidambaram said no government had acted so swiftly and procured 100 pages of documents within 17 days.

"I cannot think of any other honourable way to react to Volcker references, which were unverified references...facts not verified and unsubstantiated," he said, adding the government has gone for a three-pronged approach.

This comprises the appointment of special envoy Virendra Dayal to collect documents from the Volcker Committee, the Enforcement Directorate to carry out investigations and the appointment of Justice Pathak Inquiry Authority. He assured that the report of Inquiry Authority will be tabled in Parliament, along with the Action Taken Report.

The Finance Minister made it clear that interrogation and searches of more persons would be carried out, if necessary, by the Enforcement Directorate and the government.

Complete coverage: The Volcker report