New Delhi, Oct 27 (IANS): The Central government today 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.
The names are: Pradeep Burman, Pankaj Chimanlal Lodhiya, and Timblo Private Limited and its director Radha Satish Timblo and others.
The government in an affidavit today said it has no intention to hold back any information or the names it has received from the foreign governments of Indian citizens holding undisclosed accounts in foreign banks.
The government also said that soon after assuming the office it has set up the special investigation team to probe the flight of black money to the tax havens as ordered by the apex court.
Foreign bank account legal, says Dabur:Pradeep Burman's foreign bank account was "opened when he was an NRI, and was legally allowed to open this account", Dabur India said today in an official statement.
Pradeep Burman is a member of the promoter family of Dabur India.
"The Burman family is committed to the highest standards of corporate governance and encourage ethical behaviour at all levels. We wish to state that this account was opened when he was an NRI and was legally allowed to open this account.
"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 official statement said.
Pradeep 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.
The company's stocks were trading at Rs 209.10 per share down 3.10 percent at 2.45 pm in the Bombay Stock Exchange.