Black money case: All you need to know about 3 business tycoons named by Centre

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Black money case: All you need to know about 3 business tycoons named by Centre
Narendra Modi government on Monday revealed three names in connection with black money case. Following the Supreme Court's statement that the government can file affidavit revealing names of black money account holders, the Centre gave names of three business tycoons. The three names are -- Pradip Burman, Director of Dabur Group, Pankaj Chimanlal Lodhia, Rajkot based bullion trader and Radha S Timblo, a Goa based miner.

Here is all you should know about these three businessmen:

Pradip Burman

  • Pradip Burman, is the executive director of Dabur Group. Dabur is a reputed group which manufactures a wide range of ayurvedic and natural health care products.
  • In 2012, former Delhi chief minister Arvind Kejriwal had accused Burman Group of stashing black money in foreign accounts.
  • Three members of the Burman family - Anand Chand, Pradip Chand, Ratan Chand - which own Dabur, also have Rs 25 crore stacked aboard, claimed Kejriwal, during his anti-graft protest in Delhi.
  • Reacting on being named by the government in the black money case, the Burman Group said the account was opened when he was an NRI and was legally allowed to open this account.
  • The group also said it was unfortunate that every person having a foreign bank account is being painted with the same brush.
  • The Burman Group also asserted that they followed all laws and complete details regarding the account have been voluntarily filed with the Income Tax Department.

Pankaj Chimanlal Lodhiya:

  • The second name revealed to the SC is that of Pankaj Chimanlal Lodhiya, a Rajkot based gold trader. He owns a business house named "Shreeji".
  • The Shreeji group owns three firms namely: Shreeji trading company, Shreeji ornaments Pvt. Ltd and Shreeji Realty.
  • As per its website, the group enjoys a fine reputation in the bullion market at Rajkot. The group, initially started its business operations in realty sector and then began its adventurous journey into bullion business.
  • The website quotes, Pankaj Chimanlal, its chief promoter of the group, is a dedicated, visionary, enthusiastic and ambitious young entrepreneur.

Radha S Timblo:

Radha S Timblo is a owner of a Goa-based mining firm, is the third name to be mentioned in the government's affidavit. The Timblo group was accused of illegal mining and operating on a Pakistani's power of attorney, the Central Empowered Committee (CEC) told Supreme Court.

As per a TOI report published in 2012, the CEC in its report to SC on December 8, 2012 revealed, "It is seen that the mining lease was granted in the name of an individual who had migrated to Pakistan and died there. He was never involved in operating the mining lease or seeking renewal of it. The lease has been allowed to be operated illegally by a partnership firm comprising Timblo Pvt Ltd, Ms Radha S Timblo and others. The mining lease has been renewed by the Goa government in favour of the partnership firm owned and controlled by Timblo family by disregarding and in blatant violation of Rule 37 of Mineral Concession Rules, 1960."

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