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Timblo Pvt Ltd donated 9 times to BJP and thrice to INC Between FY 2004-05 and 2011-12

08:29 am Radha S. Timblo, managing director of a Goa-based mining company, and bullion trader Chamanbhai Lodhia of Gujarat, two of the three businesspersons accused of stashing black money abroad, have donated money to the BJP and Congress, according to watchdog NGOs.

While Timblo, head of Timblo Pvt Ltd, had donated Rs.1.18 crore to the BJP and Rs.65 lakh to the Congress from 2004-12, Lodhia donated Rs.51,000 to the BJP, according to the Association of Democratic Reforms (ADR) and National Election Watch (NEW).

The details of the donations made by the companies, according to a press statement, have been sourced from the list of political donations listed on the Election Commission web site.

"An analysis of the donations made by individuals and corporates to the national parties between 2004-05 and 2011-12 shows that Timblo Pvt Ltd ... donated nine times to the BJP amounting to Rs 1.18 crore and thrice to the Congress, amounting to Rs.65 lakhs in seven years," the statement said.

Timblo Pvt Ltd is one of the many mining companies accused of carrying out illegal mining by the Justice M.B. Shah commission, which exposed a Rs.35,000 crore illegal mining scam in the state.

Speaking to reporters earlier Monday, Timblo said she needs to study the government's affidavit to the apex court before commenting.

"I will have to study the affidavit first," she said, when asked for her comment, and added that she will give her reaction to the Supreme Court.

In Gujarat, Lodhia claimed innocence even as he complimented Prime MinisterNarendra Modi for the drive against black money.

"I am nothing compared to big people who could be (having) black money. I can say that I have no Swiss bank account. I believe that accounts of big politicians should be taken to task," he told the media in Rajkot.

"Though my name has come into this, I want to say that Narendra Modi has taken (the) best step. I will totally cooperate with the government and share all the details. I am innocent," he said.

According to the ADR-NEW statement, there are a total of 13 electoral Trusts, only seven of which have been approved by the Central Bureau of Direct Taxes (CBDT) because they were formed after the CBDT rules governing electoral trusts were notified Jan 31, 2013.

The seven trusts formed after the CBDT rules came into effect are required to submit details of their donations to the Election Commission.

The remaining six formed before the CBDT rules came into existence are not required to do so. These six trusts have donated more than Rs 105 crore to national parties between 2004-05 and 2011-12. Details of these donations are not known.  (IANS)

07:23 am The Supreme Court will continue hearing the black money case today.

The central government on Monday revealed the names of three people who have black money stashed abroad in its affidavit to the Supreme Court. The much-awaited list did not include names of any politician, but more disclosures are possible if the government finds evidence of illegality in any of the 700 accounts whose details were handed over to it by French and German authorities.

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. The information on Burman had been secured from the French, while on others the sources were "other countries", the apex court was told.

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 Finance Minister 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 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 Sunday said premature disclosure of names of Indians with allegedly illegal bank accounts abroad will hurt India's battle against black money.

End of updates of 27 October

9.00 pm: Sonia and Rahul Gandhi on list, says Subramanian Swamy

BJP leader Subramanian Swamy alleged that names of Congress chief Sonia Gandhiand vice-president Rahul Gandhi are on the infamous list of those who have stashed away illicit money in Swiss banks.

According to a report in the DNA, the senior leader said he had written to the finance ministry about the same.

"I have written letter to the Finance Ministry and the Commission on black money that Rahul Gandhi and Sonia Gandhi have black money stashed abroad. But no action has been taken. At least eight former cabinet ministers of the Congress are on the list."

8.30 pm: Arvind Kejriwal tells BJP to take stern action against the accused in black money case

AAP chief Arvind Kejriwal on Monday during a press conference asked BJP to reveal all the names mentioned in the black money list. Speaking to the media, the former chief minister of Delhi said that BJP is behaving exactly like the previous UPA government who had not revealed the names of all those who were accused of stashing illegal cash in Swiss banks.

The AAP convenor added that in 2012, he along with Prashant Bhushan, had released a list of illegal account holders and Pradip Burman had featured in that list as well. Kejriwal added that this validates AAP's doubts and they would want the government to release all the names.

Interacting with the media, Kejriwal added that the BJP spent spent thousands of crores of rupees in its election campaign for the Lok Sabha elections and on Maharashtra and Haryana assembly elections. "People suspect whether the list contains names of those who provided funds for the election campaign," AAP said in a statement.

Demanding action from Modi, the Aam Aadmi Party demanded that the BJP government should immediately disclose the names of all account holders, complete investigations in all cases in a time bound manner and take strictest action against those who are guilty.

8.18 pm: Lodhiya, Timblo had made donations to both Cong and BJP, say reports

A few more skeletons tumbled out of the closet in the black money case. According toNDTV reports black money holders Radha Timblo's company Timblo Private Limited and Pankaj Lodhiya had donated money to both the BJP and the Congress.

NDTV reported that Timblo donated Rs 1.18 crore to BJP and Rs 65 lakh to the Congress. Meanwhile Lodhiya donated Rs 51,000 to the BJP.

7.22 pm: Govt should avoid 'political titillation', says Congress

Advocating that there was a need to look at the issue with broader perspective, party spokesman Abhishek Singhvi said "Congress' stand is clear and remains unchanged. It is not an occasion for press sensationalisation and political titillation.

"They are the government. They control ministries and departments. They should act....Do not play games."

Replying to questions about names of Congress leaders figuring in the list, Singhvi said "if there is a name, the individual concerned will answer it and it is not proper to take names from the podium of party office".

He said the larger question is where is the 55,000 names as promised by Yoga guruRamdev and tonnes of money projected by them, reported PTI. He dismissed the whole campaign of BJP on the issue of black money as "much ado about nothing".

Wondering whether they have been able to bring back even Rs 55 from the 55,000 names they were claiming, he asked as to why the names have not been made public.

5.39 pm: Steps taken by govt good, but I'm not guilty, says Lodhiya

Denying allegations of holding black money against him, Pankaj Lodhiya told CNN-IBN that he did not know how his name turned up on the list.

"God knows how my name turned up on the black money list. I don't have a Swiss Bank account," Lodhiya said.

However he did say that he was served with a I-T notice earlier. He said that, "I am a simple Gujarati businessman. I have followed all rules and regulations."

But he said that harsh steps taken by the government were good. But he said, "I am not one of them."

4.58 pm: Cong, BJP not revealing all names, alleges Arvind Kejriwal

AAP chief Arvind Kejriwal on Monday alleged that the BJP and the Congress were on purpose not revealing big names involved in the black money case.

Addressing the media Kejriwal said, "We had revealed all the three names related to black money disclosed by the government two years ago. We demand action against all the people involved in black money and illegal bank accounts."

He also alleged, "The Congress and the BJP are not revealing all the names in the black money case."

4.05 pm: Nitish Kumar slams Modi govt, says it shows party's 'black mind'

Janata Dal (United) today made a scathing attack on the Narendra Modi government over its affidavit on black money saying it reflected BJP leaders' "black mind" and mocked the party as "Bhrasht Jhoothi Party".

"Kale dhan par BJP ka rukh unke kale maan ko dikhata hai (The approach of BJP on the issue of black money reflects black mind of its leaders)," senior JD(U) and former Bihar chief minister Nitish Kumar said on his Facebook account.

He has also lampooned the PM and his predecessor Manmohan Singh through pictures to drive home his point.

"The party which had sought votes in the general election on the issue of corruption and black money during its five month tenure has come out with only three names which also they are not confirming," Kumar, a known rival of Prime Minister Modi, said reacting to the Centre's affidavit before the Supreme Court in the black money case.

"Kya is desh mein kewal teen logo ke pass kala dhan hain (do only three persons in the country have blackmoney)?" he said in his sarcastic comment.

3.55 pm: Ex-UPA minister Preeneet Kaur denies holding overseas account

Former UPA minister Preeneet Kaur after receiving an I-T notice said that she had no overseas bank account in her name.

NDTV reports quoted her as saying, "I strongly deny allegations of holding foreign accounts. I have no account in my name."

3.21 pm: Will have to read affidavit before reacting, says Goa miner Timblo

Goan mining magnate Radha S Timblo, who has been accused by the Centre of stashing black money in Swiss banks, said that she needs to study the government's affidavit to the apex court before commenting.

"I will have to study the affidavit first," she said when asked for her comment, and added that she will give her reaction to the Supreme Court.

Timblo, 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 Rs 35,000 crore illegal mining scam in the state.

2.30 pm: Jethmalani slams govt, says SIT should be probing issue

Senior lawyer and politician Ram Jethmalani has slammed the government over the black money probe saying the Narendra Modi government's approach to the issue was wrong.

Jethmalani told CNN-IBN, "SIT should be probing black money not the government. Why is the government getting involved in the probe?"

2.00 pm: Cherry picking is wrong and irresponsible, alleges Khurshid

Senior Congress minister Salman Khurshid today told CNN IBN that cherry-picking names on the black money list is not only wrong but also immoral. "The government can disclose all the names on the list to the court as per law," asked Khurshid.

The government needs to make it clear tot he public what its responsibility is, Khurshid added. He did, however, agree that legally it is very difficult to name an account holder, unless the person is being prosecuted and taken to court.

The central government on Monday 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 on Monday 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.

1.30 pm: Dabur denies any wrong doing by former executive director Pradip Burman

Dabur, one of India's top consumer goods companies, has said in a statement that Burman's account is legal and that it is "unfortunate" that every foreign account holder is being painted with the same brush.

"We wish to state that this account was opened when he (Pradip) was an NRI, and was legally allowed to open this
account," a Dabur spokesperson said in a statement. "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," he added.

Pradip Burman currently holds no position in the homegrowm FMCG major although he was once a Whole Time Director of Dabur India.

Regretting that there was a lack of differentiation between legal and illegal foreign bank account holders, the
spokesperson further said: "It is unfortunate that every person having a foreign bank account is being painted with the same brush."

"The Burman family is committed to the highest standards of corporate governance, and encourage ethical behaviour at all levels," the spokesperson added.

1.00 pm: Dabur stock falls 9 percent 

Shares of Dabur India fell sharply by 9 percent in early trade today after one of its promoters Pradip Burman was named by the government in the affidavit related to black money case filed in the Supreme Court. Reacting to this, Dabur India's stock tumbled 8.98 percent to Rs 196.40 on the BSE. On the NSE, it slumped 8.94 per cent to Rs 196.55. However, later the stock recovered some of the lost ground but was still trading 3.71 percent lower at Rs 207.80 on the BSE at 1300 hours.

I have no Swiss account, says Pankaj Lodhiya

Pankaj Lodhiya also denied any wrongdoing. "I do not have any Swiss account. I have declared all assets and I have not been served any notice," he said today.

More names are likely to be revealed "as and when prosecution is launched".

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