Black money: Goa mining baron Timblo summoned by Enforcement Directorate
She was has been asked to appear before the agency on 12 November. Timblo is the managing director of Goa-based mining company Timblo Pvt Ltd. Four of her family members, all directors of the company, were also named in the affidavit that was filed by the Centre before the apex court on 27 October.
The others whose names were released by the centre are: Pradip Burman, director of the Burman group and Pankaj Chimanlal Lodhya, a Rajkot-based bullion trader.
Defending herself Timblo said, ‘It is too early to comment on the matter. I need to study details of government’s affidavit in black money case. I will give my reaction to the Supreme Court.’
Interestingly, Timblo was earlier indicted by an apex court committee in 2012 for illegally operating a mining lease with a questionable power of attorney executed by a Pakistani national identified as Mavani on 5 November, 1997, which is a violation of the Mining Concession Rules, 1960.
This money, the ED suspects, is linked to illegal mining in Goa for which Timblo is already under investigation. A panel that investigated mining firms had said in its report last year that for two financial years, Timblo had under-invoiced the company’s exports by nearly Rs 72 crore.
On 27 May, prime minister Narendra Modi in his fist cabinet meeting gave an approval on the formation of a Special Investigation Team (SIT) headed by headed by retired judge MB Shah to unearth the black money amounting to nearly $500 billion.
The others whose names were released by the centre are: Pradip Burman, director of the Burman group and Pankaj Chimanlal Lodhya, a Rajkot-based bullion trader.
Defending herself Timblo said, ‘It is too early to comment on the matter. I need to study details of government’s affidavit in black money case. I will give my reaction to the Supreme Court.’
Interestingly, Timblo was earlier indicted by an apex court committee in 2012 for illegally operating a mining lease with a questionable power of attorney executed by a Pakistani national identified as Mavani on 5 November, 1997, which is a violation of the Mining Concession Rules, 1960.
This money, the ED suspects, is linked to illegal mining in Goa for which Timblo is already under investigation. A panel that investigated mining firms had said in its report last year that for two financial years, Timblo had under-invoiced the company’s exports by nearly Rs 72 crore.
On 27 May, prime minister Narendra Modi in his fist cabinet meeting gave an approval on the formation of a Special Investigation Team (SIT) headed by headed by retired judge MB Shah to unearth the black money amounting to nearly $500 billion.