Radha Timblo, the Managing Director of Timblo Pvt Ltd.
Goa-based mining company Timblo Private Limited, named by the Centre in an affidavit for allegedly stashing black money in foreign banks, is under the scanner of the Enforcement Directorate or ED, sources told NDTV.
Sources in the ED said the agency will probe the Timblos over foreign exchange violation and money laundering. The ED has asked the mining firm to submit sale invoices and bank account details, they said.
Among those named in an affidavit filed in the Supreme Court were Pradip Burman, a promoter of the Dabur Group, Rajkot-based businessman Pankaj Lodhiya and five directors of Timblo. Along with Radha Timblo, brothers Chetan and Rohan Timblo and their wives Anna and Mallika were named.
Radha Timblo, the Managing Director of Timblo Pvt Ltd, has denied the allegations. "My conscience is very clear. We have paid all taxes and have no undisclosed bank accounts in India or abroad," she told NDTV.
In 2009-2010, Mrs Timblo was among the top 10 income tax payers in India paying an advance tax of Rs. 30.8 crore and an income tax of Rs. 20 crore. Speaking at her office in Madgaon, she said her case, as brought up in the Supreme Court, was "an old matter that was almost settled and adjudicated upon."
Sources reveal that information on the Timblos and Rajkot-based businessman Pankaj Lodhiya came from German authorities. Mrs Timblo denied that she had any "Swiss or German" accounts.
The Timblos have donated funds to both the Congress and the BJP, NGO Association for Democratic Reforms or ADR said citing public documents. It said that the company donated Rs. 1.18 crore to the BJP and Rs. 60 lakh to the Congress.
"I have no political affiliations and making an official political donation is not a criminal act," Mrs Timblo said.