India names three businessmen accused of stashing ‘black money’
PUBLISHED : Monday, 27 October, 2014, 10:47pm
UPDATED : Monday, 27 October, 2014, 10:47pm
Agence France-Presse in New Delhi
The government filed an affidavit in the Supreme Court yesterday naming bullion trader Pankaj Chimanlal Lodhiya (from left), former executive director of the Dabur food group Pradip Burman and mine operator Radha Timbola as among those under scrutiny.
India's government has revealed the names of three prominent businessmen accused of illegally stashing funds in foreign bank accounts as it seeks to recover billions of untaxed dollars abroad.
The ruling right-wing Bharatiya Janata Party (BJP) pledged to crack down on "black money" after winning power in May, accusing the previous government of failing to tackle the issue.
The government filed an affidavit in the Supreme Court yesterday naming Pradip Burman, a former executive director of the Dabur food group, bullion trader Pankaj Chimanlal Lodhiya and mine operator Radha Timbola as among those under scrutiny.
The government was under pressure to file the affidavit following petitions including from activist Subramanian Swamy, who has waged a campaign to prosecute wealthy people with undeclared funds offshore.
A full list is believed to contain up to 700 names and opposition Congress general secretary Digvijaya Singh accused the BJP of "selective revelation". There is no firm estimate of the amount of black money, but it is believed to be hundreds of billions of dollars.
The Dabur group said Burman opened his foreign account while a non-resident Indian and "was legally allowed to open" it.
Lodhiya said he was in compliance with all tax laws, adding: "I have no foreign bank account."
The mine operator was not available for comment.
