Black money in India, the names revealed in the Supreme Court are: Pradip Burman, Pankaj Chimanlal and Radha S Timblo.
After issuing a treat to the Congress party for its further fall, the Central government today filed fresh affidavit in the Supreme Court on the issue of black money today.
And well, the three names it included do not have anything to do with politicians.
The names revealed in the Supreme Court are: Pradip Burman, Pankaj Chimanlal and Radha S Timblo.
While Burman is the former director of Dabur, Pankaj Chimanlal Lodhiya is a Rajkot based bullion trader and Radha S Timblo is a Goa based miner.
Firstpost reported that “in 2012, the Supreme Court’s CEC (Central Empowered Committee) had noted that Goa Government had allowed Ms Radha S Timblo operate an illegal mine in Goa. A partnership firm comprising Timblo Pvt Ltd, Ms Radha S Timblo and others had managed to get a mining lease renewed by the Goa government in blatant violation of the law.”
The report also said that the Burman Group released an official statement saying that Pradeep Burman’s account was opened when he was an NRI and was legally allowed to do so.
“Moreover, all the details regarding the account have been voluntarily filed with the Income Tax department and appropriate taxes have been paid. It is unfortunate that every person having a foreign bank account is being painted with the same brush, added the statement released by the Burman Group.
Bullion trader Pankaj Chimanlal Lodhiya was reportedly ‘shocked’ and said that he did not hold any foreign accounts.
Earlier, the central goernment was not ready to share the names with the Supreme Court saying that these foreign bank account holders as tax treaties ban the disclosure of names at preliminary stages of inquiry.
Now, the government calls it its “misunderstood” stand.
The Centre will disclose more names of account holders to the court as and when the prosecution in the case begins.
The Supreme Court, based on a petition by noted lawyer Ram Jethmalani, has created a special committee to look at how to recover black money.
But the government had told the Supreme Court that it could not reveal the names received from other countries as it would violate the tax treaties with those countries.
The government feels revealing all names without scrutiny about illegalities committed by them would be a violation of the right to privacy as any Indian under the RBI rules can legitimately deposit $1,25,000 in a foreign bank per year.