New Delhi: Modi govt releases ‘black’ list


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Agencies

Congress lambasts BJP, asks govt to reveal all names on the list

 

New Delhi, Oct 28, 2014: Amid opposition attack of being soft on money laundering, the NDA government on Monday furnished the names of two individuals, including a promoter of the Dabur consumer goods company, and a mining company and its five directors to the Supreme Court, alleging they had funds in bank accounts abroad over which proceedings had been initiated for tax evasion.

 

Those named are prominent industrialist and scion of the Dabur Group Pradeep Burman, Rajkot-based bullion trader and realtor Pankaj Chimanlal Lodhiya and Goa-based mining firm Timblo Pvt Ltd and its five directors -- Radha S Timblo, Chetan S Timblo, Rohan S Timblo, Anna C Timblo and Mallika R Timblo.

 

The information on Burman had been secured from the French, while on others the sources were "other countries", the apex court was told. Burman, Lodhiya and one of the directors of Timblo all reacted differently to the alleged revelation, but all claimed innocence.

 

 

The names were filed in an affidavit, after a Supreme Court bench headed by Chief Justice HL Dattu permitted such filing soon after Attorney General Mukul Rohatgi, representing the Prime Minister Narendra Modi government, raised the matter on Monday morning.

 

The government in its affidavit said it has no intention to hold back any information or the names it has received from foreign governments of Indian citizens holding undeclared accounts in foreign banks containing income on which no taxes were paid to the national exchequer. As per some reports, one list has as many as 780 names.

 

"The intention of the present government is clear and unambiguous. The government is keen to unearth the black money held abroad and for that purpose it will use all diplomatic and legal means and also all investigative agencies to obtain information that can assist in such unearthing."

 

At the same time, the government will make public names of only those people against whom there is a prosecutable case in connection with tax evasion through offshore accounts, Finance Minister Arun Jaitley said.

 

"We will disclose only those names against whom we have prosecutable evidence," he told reporters.

 

Even as the government officially sought to keep the mood quiet, BJP party spokespersons went on an overdrive with one of them calling it a historic day in the illegal money case.

 

There was also some political posturing.

 

 

"The government has to answer a lot of questions. There is a reluctance on its part to give out all the names. This shows the government lacks the political will and determination to fulfil its election promises," Communist Party of India (CPI) National Secretary D Raja said.

 

He said this was crucial since Jaitley had said that some names will embarrass the Congress Party. "What has happened to those names? Why are the names of politicians not being revealed?" he asked.

 

Congress also joined in with spokesperson Sanjay Jha saying the action on Monday was in stark contrast to the BJP’s election manifesto that had promised to bring back black money speedily.

 

"The BJP had promised to bring back black money in 100 days if they came to power. During the campaign for general election they had promised people to reveal all names who had put illegal money in foreign banks," Jha said.

 

Senior Congress minister Salman Khurshid said cherry-picking names on the list was wrong and immoral. "The government should disclose all the names on the list to the court as per law," Khurshid said.

 

India has no official estimates of illegal money stashed away overseas. But the unofficial ones range from $466 billion to $1.4 trillion.

 

Industry did not react, but a day before the affidavit, leading chamber Assocham had on Sunday said premature disclosure of names of Indians with allegedly illegal bank accounts abroad will hurt India’s battle against black money. 

 

Pradeep Burman former Dabur executive Burman was once a wholetime director of Dabur India but he does not hold any executive position in the company now. 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.

 

Pankaj C Lodhiya Bullion trader and jeweller Lodhiya is the chairman of the Shreeji Group of companies based out of Rajkot. The Shreeji Group has three main businesses - Shreeji Trading Company, Shreeji Ornaments Pvt Ltd and Shreeji Realty. The company is one of the pioneers of high-rises in the city, and has completed eight residential and commercial projects in Rajkot.

 

Radha Satish Timblo Director, Timblo Pvt Limited Radha Satish Timblo has been named along with Chetan Timblo, Rohan Timblo, Anna Timblo and Malika R Timblo. She is runs Timblo Pvt. Ltd from Goa, one of the many mining companies accused of carrying out illegal mining by the Justice MB Shah commission, which exposed a Rs35,000 crore illegal mining scam in the state.

 

 

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