IN BLACK & WHITE

Burman of Dabur group, Rajkot-based bullion dealer Lodhiya, Goa’s Timblo Pvt Ltd figure in govt’s affidavit on black money stashed abroad

Published on:

27 Oct 2014, 8:58 pm

NEW DELHI: Names of two leading businessmen including Pradip Burman, a promoter of the Dabur group, and a Goa-based mining company along with its five directors were today disclosed to the Supreme Court by the government which has launched prosecution against them as part of its drive to unearth blackmoney abroad.

A Rajkot-based bullion dealer Pankaj Chimanlal Lodhiya and the Goa company, Timblo Private Limited, and its five directors--Mrs Radha S Timblo, Chetan Timblo, Rohan Timblo, Anna Timblo and Mrs Mallika Timblo--figured in a 16-page affidavit filed in the court.

Burman's prosecution had been undertaken on the basis of information from the French authorities while that of the others is based on information received from other countries, which were not named in the affidavit by the Finance Ministry.

The affidavit, filed days after the government came under attack from political rivals that it was chary of revealing names, promised to disclose more names of black money holders who have come under its scanner but maintained that all foreign bank accounts cannot be termed as “illegal”.

Today's additional affidavit on the black money issue was in furtherance of its recent affidavit in which it had said that names of account holders in foreign banks cannot be disclosed till there is evidence of tax evasion against them and prosecution is launched in India.

Shortly after today's disclosure in the Supreme Court, Dabur India promoter family, Burmans said the account complied with all legal requirements.

“We wish to state that this account was opened when he (Pradip) was an NRI, and was legally allowed to open this account,” a Dabur spokesperson said in a statement.

“We have followed all the laws and the complete details regarding the account have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid, wherever applicable," he added.

Lodhiya denied having a Swiss bank account. “We have already declared in the income tax and there is nothing...we don't have any Swiss account that is the only thing which Ican say,” he said.

Pradip Burman

Pradip Burman is the scion of one of the most reputed business families of India. They run the noted Dabur brand of FMCG products

Pankaj Lodhiya

Pankaj Chimanlal Lodhiya is the proprietor of Shreeji Trading Company, a bullion trading company based out of Rajkot, Gujarat. He is also chairman of the Shreeji Group of companies which has three main businesses including bullion trading. It's a prosperous group with growing footprints in the realty sector. The jewellery arm sells diamond, gold and silver ornaments under the 'Tatva' brand.

Radha Timblo

Radha Timblo is the director of Goa-based Timblo Pvt. Ltd. She is a minority partner in M/s Badruddin HussainBhai Mavani, the other partner being M/s Timblo Pvt Ltd with a 95% stake.