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Dabur says foreign bank account legal, Lodhiya denies having any
Monday October 27, 2014 6:43 PM, IANS

Pradeep Burman's foreign bank account was "opened when he was an NRI, and was legally allowed to open this account", Dabur India said Monday in an official statement.

Dabur India

"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. Therefore, it is unfortunate that every person having a foreign bank account is being painted with the same brush," the statement added.

The government in an affidavit to the apex court Monday disclosed names of three people, including Pradeep Burman, who are holding bank accounts in foreign countries and are now under the lens of Income Tax authorities.

Pradeep Burman is a member of the promoter family of Dabur India and was once a wholetime director in the company.

The other names are: Pankaj Chimanlal Lodhiya, and Timblo Private Limited and its director Radha Satish Timblo and others.

Dabur India is a 130-year-old fast moving consumer goods (FMCG) company that started its journey from erstwhile Calcutta and has around 200 plus products in its portfolio, including Dabur Chavanprash, Dabur Honey and Odomos.

Goan mining magnate Radha S. Timblo, accused of stashing black money in a Swiss bank, was indicted by an apex court committee in 2012 for illegally operating a mining lease with a questionable power of attorney executed by a Pakistani national.

Speaking to reporters outside her office, Radha Timblo said she would issue a press statement only after a going through the affidavit filed by the central government in the Supreme Court.

"I will give my reaction to the Supreme Court," she added.

The government also named Pankaj Chimanlal Lodhiya, a bullion trader from Rajkot, as the holder of accounts in a Swiss bank. Lodhiya is a proprietor in the Rajkot-based Shreeji Group.

The group is run by Pankaj, his brother Kushik and their father Chimanlal Laljibhai Lodhiya.

Top officials of the group have become incommunicado following revelations by the central government that an owner of the company held Swiss bank account/s.

Shortly after the news broke out from New Delhi, most of the important details were removed from the website, and a few telephone numbers elicited no responses at all.

However, Pankaj Lodhiya while reacting to some private television channels denied having any Swiss bank accounts, and claimed that he had disclosed everything to the Income Tax authorities. He said he was shocked to see his name coming in the government list and that he had no political connections.

Pankaj is the proprietor of Shreeji Trading Company, which deals in bullion.

Finance Minister Arun Jaitley had earlier said the names of persons would be disclosed as and when the cases are filed in the court.

In another reaction to the disclosures, a Bharatiya Janata Party spokesperson Monday said: "We are not adverse to revealing the names but they will all only be released as and when the charge sheet is filed and investigation is over."

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